books/9781119228202/cfi/6/221/4/ C Q.2 Why does the canvas model help to better
ID: 386399 • Letter: B
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books/9781119228202/cfi/6/221/4/ C Q.2 Why does the canvas model help to better understand a business? Q.3 How do the nine sections lead to a better understanding of the business model? Q.4 Describe the MVP process and how is it best used with customers. Q.5 Why was Greif Packaging, described in Chapter 2, able to capture more of the value in the supply chain? Where did the extra value come from, and were there others who lost the value they were selling? 0.6 What is digital collaborative filtering? Name three companies that are successfully using this technique in their business models. Can you think of other businesses that might employ this technique in their business models? (Hint: Think of media companies, retail stores, and health care.) Q.7 What do you find most innovative about the DBI business model? Can you think of similar examples where these concepts might be use 0.8 Name three similarities and three differences between a franchise and a license. 0.9 List four types of corporate partnering with the advantages and potential disadvantages to both large and small companies.Explanation / Answer
Canvas model helps to better understand the business because it breaks the business model into various segments that help to understand, describe, challenge, design, invent, and pivot the business model. The segments can be from the key partners of the company to the key activities and key resources of the company, the value propositions, customer relationships, customer segments, channels, cost structure and revenue sources. These elements categorised separately can help the company to understand which one is weaker and needs improvement It provides a path to build innovation strategies for business growth. When you have a clearer picture of these elements, you can explain them to your employees for getting their contribution where required and to the clients to build trust and good relations with them. Canvas model helps in a clear vision of the company's current position and future prospects. This helps in forming strategies for innovation which will lead to the company's sustainable growth.
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