ECell organizes session on “Business  Model Canvas and Business Planning” for SE students

On July 13, 2024, the Entrepreneurship Cell at our college hosted an insightful lecture as part of their “Entrepreneurship: Idea to Startup” course. The session, led by Mr. Sanjeev Parab, focused on the critical concepts of Business  Model Canvas and Business Planning and featured a distinguished speaker, Mr. Abhishek Singh who is Incubation Manager at Atal Incubation Centre, GIM and also Founder, CEO Saratech.

The lecture began with a warm welcome from Ms. Shrinivas Inamdar, who introduced the speaker. The speaker provided a comprehensive overview of the Business Model Canvas, emphasizing its pivotal role in validating the feasibility and viability of a Business Model before significant resource allocation. He highlighted the key aspects of Business Model Canvas, including its purpose, importance, and the benefits. The speaker delved into the essential elements of a successful Business Model, such as the 9 Building Blocks that are required for a Business Model Canvas. He also outlined the step-by-step process of conducting a Business Model Canvas, covering the planning, execution, and evaluation stages.

The session also addressed the factors that contribute to the success of a Business Model Canvas, including the 9 building blocks namely: Customer Segments, Value Proposition, Channels, Customer Relationship, Revenue Streams, Key Resources, Key Activities, Key Partners and Cost Structure. The speaker also discussed the potential challenges based on Value Proposition, Customer Relationship, Key Resources, Key Partners and Cost Structure.

To illustrate the practical application of Business Model Canvas, the speaker presented three successful case studies. The first case study highlighted a Lemonade Stand, it’s potential customer, channels, Key resources and revenue stream, while the second case study showcased Skype, it’s customer segment, value proposition and its cost structure. The third case study highlighted a razor company named Gillette, it’s customer segment, relationship, key activities and it’s key partners.

The lecture emphasized that Business Model Canvas is a pivotal step in Business, as it validates assumptions, identifies potential risks and challenges, and significantly enhances the likelihood of project success. The attendees were encouraged to apply Business Model Canvas to their Start-ups to ensure informed decision-making and maximize the feasibility and success of their innovative ideas.