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Business Model Canvas Essay

   

Added on  2020-10-04

8 Pages2462 Words273 Views
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ESSAY
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Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1CONCLUSION................................................................................................................................5REFRENCES...................................................................................................................................6
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INTRODUCTIONBusiness Model Canvas(BMC) is a tool used to visualise all the building blocks ofstarting a business that includes consumers, market segment, finance and value proposition. Thismodel defines nine segments that helps in establishing a new business. Kolb's experientiallearning style theory is used to explain learning cycle while preparing BMC (Joyce and Paquin,2016). Under this project a new company is set up named as “Wedding Bells” which providesservices related to marriage and parties. Experience while preparation of business model ismentioned. MAIN BODYIn 1984, David A. Kolb, published a ground breaking book entitled ExperientialLearning. This book essentially exposed the principle that a person would learn throughdiscovery and experience. Experiential Learning Theory provides a holistic model of learningprocess and emphasis the central role that experience plays in the learning process. Learning is acontinuous process that is created through transformation of experience. In this learning theoryfour stages are involved that starts with Concrete Experience, Reflective Observation, AbstractConceptualization and Active Experimentation. Importance of this learning theory for BMC isdescribed below. Concrete Experience is the first stage in the learning experience that is driven throughperforming and involving in particular activity. I was involved in preparation of a businessmodel that provides me wonderful experience. This model was prepared in a team and as a groupof individuals we all head different perspective that adds value to our work by increasingknowledge. Being involved in new experience provides me opportunity to make a reflectiveanalysis of experience and connecting it to primary source of learning. Canvas Model designedby us was for a company that provides services (Hong and Fauvel, 2013). Through this modelimportance of government in performing various activities are more clear now then it wasbefore. As this business model is designed to provide services to consumers with best experienceand various sources of connectivity is identified by me. My perception for human resource forbusiness just changed when I realised how important they are for a business. We all wereperforming different activities for this model and different task was assigned to us. As my workis to make research regarding viability of business idea. While making research I found that1
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