Business Model Canvas and Design Thinking
CA. Kaushal Dubey
Head of Finance l Financial Controller | Business Partners | Transformation of processes I Execution
In today's dynamic business landscape, having a clear understanding of business operational framework is indispensable. Business Model Canvas (BMC) is a strategic visual tool designed to encapsulate the essence of Business Model on a single page. It allows to articulate and analyze key components of business in each box (provides the questions as included in below images).
Continuous analysis of above table, encourages iterative refinement, enabling businesses to adapt to changing market dynamics and customer needs which a business can adopt and move faster in its direction.
Design thinking is a human centric problem-solving approach that emphasizes empathy, creativity, and experimentation. It is about understanding people's needs, generating innovative ideas, and rapidly prototyping and testing solutions.
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Combining Business Model Canvas and Design thinking can help a business to get into each one of boxes as mentioned in the image and understand the need of change and modify the future course of action accordingly.
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