Reading about different business models this week and watching the presentations hopefully prompted you to consider how your group’s business model will look. After reading the articles and watching those presentations I assigned to you this week, you will be prepared to complete this exercise. Most importantly, make sure you read the assigned pages in Business Model Generation, 14 – 46, before contributing to this discussion with your group.
This discussion forum is set so that you will only be communicating with your group. In this forum, your group needs to show evidence of a practical discussion that addresses the question below.
- What will your business model look like for your chosen opportunity that your group came up with last week?
- A good starting point for forming your business model will be the9 Building Blocks of a Business model that are described in Business Model Generation by Osterwalder and Pigneur (i.e. what are your key partnerships that will sustain your business or what value propositions will your business satisfy?).
- You do not have to report any numbers in this activity (e.g. calculations for how you would finance the business). Just give a description of how the business will work based on the 9 Building Blocks and the other material from Business models that you learned this week.
- The Business Model Canvas on page 44 of your textbook may be helpful in helping you brainstorm these areas visually.
- While there is no post minimum or maximum, please make sure to completely answer develop your business model in the discussion forum with your group through your posts. Also, it is your responsibility as an individual group member to make quality contributions since your participation will be evaluated individually in this discussion.
- Your group should have a general consensus on the business model in the discussion forum
- Tip – You may want to have a group member take the important points from the discussion and begin to compile them for when you submit your Business Model Project in weeks 6 and 7.
I will review your submissions and provide feedback to support the development of your upcoming venture business model.