Business Model Canvas Application

The provided document is an analysis of the business model canvas (BMC) and its application in a company's strategy. The author discusses the importance of the BMC in understanding the relationships between the nine building blocks of a company, including value proposition, cost structure, revenue streams, and customer relationships. However, the author also mentions issues faced by the company and strategies implemented to reduce risks effectively. The document concludes that the enduring problems were solved by understanding customer tastes and preferences appropriately. A summary of past literature on business model innovation and sustainability is provided, highlighting the importance of adapting business models for sustainability.

Running head: BUSINESS CANVAS MODEL
Business Canvas Model
Name of the Student
Name of the University
Author note

1BUSINESS CANVAS MODEL
Table of Contents
Introduction................................................................................................................................3
Overview of GRIPIT FIXINGS LTD........................................................................................3
Products and Services of GRIPIT FIXINGS LTD.....................................................................3
Management Team of GRIPIT FIXINGS LTD.........................................................................4
Business canvas Model of GRIPIT FIXINGS LTD..................................................................4
Key Relationships in the nine building blocks of BMC............................................................6
Critical Success Factors.............................................................................................................6
Ways to mitigate downside risk.................................................................................................7
Requirements of changes...........................................................................................................8
Conclusion..................................................................................................................................8
References..................................................................................................................................9

2BUSINESS CANVAS MODEL
Executive Summary
The report helps in analysing the different strategies along with proper implementation of the
business canvas model of GRIPIT FIXINGS LTD. The different kind of critical success
factors has been analysed in an effective manner that has helped in understanding the
products and services offered by the company effectively.
The main aim and purpose of the report is to understand the different kind of changes and
strategies to mitigate the downside risk from the respective organization.

3BUSINESS CANVAS MODEL
Introduction
The report helps in analysing the business canvas model of GRIPIT FIXINGS LTD
that is based in Australia. The different strategies to mitigate the downside risk has to be
identified and analysed as this will help in understanding the different issues that has to be
identified effectively.
The main aim and purpose of the report is to identify the different kind of critical
success factors for the business of the respective company as this will help in understanding
the tactics that can be applied to gain excellence in the market. The different kind of changes
has to be analysed effectively as this will help in understanding the key relationships within
the nine building blocks of the respective company.
The structure of the report is to include various types of crucial success factors
wherein this will help the company in understanding the different kind of activities that will
be used to solve such issues as to gain the competitive advantage in an effective manner.
Overview of GRIPIT FIXINGS LTD
GRIPIT FIXINGS LTD is one of the Australian based plasterboard fixing
organization wherein it is manufactured in Britain ("GripIt Fixings - GripIt Heavy Duty
Plasterboard Fixings", 2018). The ultimate fixing of the plasterboards in the entire world was
launched in the entire market in the year 2012 and it helped in providing popular along with
winning solution to the different kind of enduring problems. There were different kind of
large stores along with DIYers wherein they used the simple method of wall hanging on the
plasterboard as it was ease and comfortable in nature (Schaltegger, Hansen & Lüdeke-
Freund, 2016).

4BUSINESS CANVAS MODEL
Products and Services of GRIPIT FIXINGS LTD
There are different kind of services and products that are delivered by the respective
organization to the different customers in the entire competitive market. The products and
services are plasterboard fixings that will help in different kind of wall hangings and it helps
in providing instant solution that is proper and perfect in nature (Dijkman et al., 2015). The
plasterboard fixings help in providing high performance and convenience to their customers
as well. The product is innovative in nature and it helps in solving the problems of the
individuals as well (Carayannis, Sindakis & Walter, 2015).
Management Team of GRIPIT FIXINGS LTD
Jordan Daykin is the Chief Executive Officer wherein he has different other
employees in the finance, marketing and the human resource department who helps the
company in gaining competitive advantage. The CEO of the respective company has secured
over £80,000 investment and the fixings of Gripit was and exported the same to more than
thirty-two countries (Aversa, Haefliger, Rossi & Baden-Fuller, 2015).
Business canvas Model of GRIPIT FIXINGS LTD
Key Partner
Automotive
companies who
sell different kind
of parts
Material suppliers
Manufactures of
plasters
Key Activities
Develop the
capability of
manufacturin
g different
kind of wall
hanging
Acquire the
funding for
Value
Proposition
Maintain the
expansive
view
It will help in
decreasing
the solar heat
and make the
Customer
Relationship
s
Act as the
supplier and
this will help
in providing
support from
word of
Customer
Segments
Automotive kind
of OEMs and this
includes the
different part of the
suppliers

5BUSINESS CANVAS MODEL
the prototype
Development
for the large
scale of the
production of
the different
kind of wall
hangings in
offices,
houses along
with other
places
curtain
hanging
effectively
The cleaning
will be done
in an easy
manner
mouth
Different
kind of trade
shows
Key
Resources
Specialists of
the
manufacturin
g companies
Process
engineers
Different
kind of
facilities of
manufacturin
Channels
Module kind
of sales to the
different
suppliers

6BUSINESS CANVAS MODEL
g
Cost Structure
 Labor that includes the assembly line
engineers, workers and management
 Materials that includes the suppliers of
construction of the wall hanging with
the help of the construction of the
plasterboard fixings
Revenue Streams
 Smart wall hanging panel that will help
in making the tasks easier
Key Relationships in the nine building blocks of BMC
Proper nine building blocks of BMC is essential in nature as this will help in
understanding the different kind of importance of all the blocks in an effectual manner. BMC
is the strategic management template that will help in developing new that will help in
understanding the importance of nine building blocks effectively (Taran et al., 2015).
Firstly, the key partners help in portraying the different kind of network for the
different cooperative agreements with the different companies. Furthermore, the key
activities of the BMC wherein it helps in outlining the different kind of capabilities that is
required as to run the business model of the respective company (Pyo & Ha, 2015).
The key resources of BMC help in describing the arrangement of the resources in an
effective manner as this will help in solving the different issues and solve the issues in an
effective manner as well (Joyce & Paquin, 2016). The value propositions help in providing
overall bundle of the products and services in an effectual manner that helped in analysing
the customer segments in appropriately. The distribution channels will help in describing the

7BUSINESS CANVAS MODEL
different kind of channels to communicate with different customers in an effectual manner
(Pedersen, Gwozdz & Hvass, 2016).
The revenue and cost streams are essential in nature that helped the respective
company in summing up different kind of consequences as to run the BMC in an effectual
manner. it helped in understanding the different streams and other activities that helped in
providing the process through which money is earned (Lüdeke-Freund & Dembek, 2017).
Critical Success Factors
There are different kind of critical success factors as this will help the company in
understanding the different strengths of the company effectively. The requirements of the
customers have to be analysed in an effectual manner that will provide the different issues
and solve them in an appropriate manner. the CSFs are as follows:
The respective company needs to increase the market share with the help of the
current target customers as this will help the company in gaining competitive
advantage (Ghezzi et al., 2015)
The company needs to understand the excellence of the company in nan appropriate
manner that will help the company in understanding tastes and preferences of
customers
The company needs to achieve the fulfilment of the order excellence as this will help
the entire organization along with understanding the future requirements (Dudin et al.,
2015)
Lastly, the company needs to fulfil the different needs of the customers by innovating
the different other products that will help in increasing revenues and market share

8BUSINESS CANVAS MODEL
Ways to mitigate downside risk
There can be different kind of risks that has to be mitigated by the company as this
can have huge impact on their business. The downside risks can impact the organization
wherein this will have negative impact and the revenues and profit will fall in the future as
well. The different kind of risks in GRIPIT FIXING Company are as follows:
There can be interruption with business wherein the business has to be relocated and
this can create huge risks for the company as well
Secondly, there can be breach in security wherein there can be data theft and this can
help the other company to use such data of the respective company and gain
competitive advantage as well
However, there are different ways through which the risks can be mitigated that are as
follows:
The respective company needs to map and plan a strategy that will help the company
in overcoming such issues and determine the coverage levels as well
Secondly, the proper backup and recovery plans has to be adopted by the respective
company that will help them in the future to solve such issues with proper
implementation of technologies
Requirements of changes
There are different kind of changes that is required to be adopted by the respective
company if the entire business was mine. I would have implemented different advancement
in the technology that would have helped me in expanding the scope wherein this would have
helped in arranging the different kind of other hangings other than walls. I would have
increased the revenue streams in an effectual manner wherein I would have implemented

9BUSINESS CANVAS MODEL
more key channels and partners with the help of analysis of the different competitors in the
market.
Conclusion
Therefore, it can be concluded that business canvas model is essential in nature as this
has helped in understanding the relationship between the nine building blocks of the BMC of
the respective company. However, there were different issues that has been faced by the
company and strategies has been implemented to reduce the risk in an effectual manner. the
enduring problems has been solved by the company by understanding the tastes and
preferences of the customers in an appropriate manner. There were requirement of the
changes that helped in understanding the scope of the project and solved them in an effectual
manner.

10BUSINESS CANVAS MODEL
References
Aversa, P., Haefliger, S., Rossi, A., & Baden-Fuller, C. (2015). From business model to
business modelling: Modularity and manipulation. In Business models and
modelling (pp. 151-185). Emerald Group Publishing Limited.
Carayannis, E. G., Sindakis, S., & Walter, C. (2015). Business model innovation as lever of
organizational sustainability. The Journal of Technology Transfer, 40(1), 85-104.
Dijkman, R. M., Sprenkels, B., Peeters, T., & Janssen, A. (2015). Business models for the
Internet of Things. International Journal of Information Management, 35(6), 672-
678.
Dudin, M., Kucuri, G., Fedorova, I., Dzusova, S., & Namitulina, A. (2015). The innovative
business model canvas in the system of effective budgeting.
Ghezzi, A., Cavallaro, A., Rangone, A., & Balocco, R. (2015, April). A Comparative Study
on the Impact of Business Model Design & Lean Startup Approach versus Traditional
Business Plan on Mobile Startups Performance. In ICEIS (3) (pp. 196-203).
GripIt Fixings - GripIt Heavy Duty Plasterboard Fixings. (2018). Grip It Heavy Duty
Plasterboard Fixings. Retrieved 25 March 2018, from http://www.gripitfixings.co.uk/
Joyce, A., & Paquin, R. L. (2016). The triple layered business model canvas: A tool to design
more sustainable business models. Journal of Cleaner Production, 135, 1474-1486.
Lüdeke-Freund, F., & Dembek, K. (2017). Sustainable business model research and practice:
Emerging field or passing fancy?. Journal of Cleaner Production, 168, 1668-1678.
Pedersen, E. R. G., Gwozdz, W., & Hvass, K. K. (2016). Exploring the relationship between
business model innovation, corporate sustainability, and organisational values within
the fashion industry. Journal of Business Ethics, 1-18.