Lecture on Business Model Canvas and business modelling delivered by speaker Mr. Venugopal Terdal

Mr. Venugopal Terdal introduced the concept of modelling and Business Model Canvas (BMC) as a powerful strategic tool for designing and evaluating business strategies. He emphasized its role in visually arranging the fundamental building blocks of a business, making it a versatile tool suitable for both existing enterprises seeking innovation and new startups. Mr. Venugopal stressed the iterative nature of BMC.

Key points highlighted in the lecture included the importance of identifying target customer segments and aligning value propositions with their needs, as demonstrated by the example of Cheermap Foods. The concept of a value proposition was discussed, emphasizing its role in distinguishing a company from competitors, with Flybird Innovation’s innovative irrigation controller serving as an example. Other topics of BMC like customer relationships, revenue streams, key partners were also emphasized upon.

Additionally, the lecture covered the significance of understanding how customers want to be reached and the trade-offs involved in channel selection, with examples from businesses like Auxin Crop Consultant and Karna Candy. The lecture concluded with a practical illustration of Blue Apron’s Business Model Canvas, offering a visual representation of BMC’s application in real-world scenarios.