Seminar on “Business Model Canvas”
Business Model Canvas (BMC) is used to outline the goals and objectives of a business. BMC can help business owners and other stakeholders develop new business models or evaluate existing models. It provides the investors the knowledge about the competitive edge of the company and provides better insight into working of the company.
The keynote speaker Dr. E.S.Shamila discussed about invention, innovation. The role of Business Model Canvas for startups and building blocks in the business model canvas were discussed. The effects of business model canvas with its benefits, practicality and uses which are all positives have been discussed. Various steps of designing an innovative & sustainable business model were clearly explained. Around 10 team presented their Business Model Canvas. This seminar allows the participants to get an understanding of their business and to go through the process of making connections between what their innovative idea is and how to make it into a business. Every team explained about their product with the support of business model canvas.
The Business Model Canvas is useful for people looking to create a model or adapt the structure of their organization or development idea. It is a graphical, one-page framework that allows you to design, describe and/or challenge your business model. The importance of BMC was explained by the key speaker and event judges. The new entrepreneurs gain knowledge about the business. The participants gathered a clear idea of business and how to take advantage of changing customer demands and expectations The event enables innovators to capture the whole picture of their business by identifying the single blocks involved.