The simple, visual template of the Business Model Canvas has made it a favorite among entrepreneurs and business strategists. With its one-page, nine-points design, a Business Model Canvas allows stakeholders to quickly understand the key needs and goals of any business.
A Business Model Canvas (BMC) is a single-page template used to outline the goals and objectives of a business. As a strategic management tool, a BMC can help business owners and other stakeholders develop new business models or evaluate existing models.
The Business Model Canvas was co-created by Alexander Osterwalder and Yves Pigneur in 2005. At the time, it was revolutionary, offering a simplified, visual alternative to the traditional business plan. The BMC led to the creation of other canvases, such as the Lean Canvas Model, used specifically to validate a business idea, and the Value Proposition Canvas, which helps identify if a product or service meets customers’ needs.
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