MIST 2090 1st Edition Lecture 5 Outline of Last Lecture I Digital Innovation II Computer Architectures III Government Computers IV The Cloud Stack V Cloud Computing Services VI Handheld Device trends VII The Internet of things Outline of Current Lecture VIII Business Modeling IX The Canvas A Customer Segments B Value proposition C Channels D Customer Relationships E Revenue Streams F Key Resources G Key Activities H Key Partners I Cost Structure Current Lecture VIII IX Business Modeling Leading IT enabled Change Use some type of method or framework to guide their activity system development lifestyle steps goals requirements design development and implement analyze put together hypothesis about what might work or a minimum viable product The Canvas A good businesss model will describe value propositions and link revenue and costs along w key capabilities and resources necessary to deliver that value The canvas is a popular method to understanding business models Originally from Osterwalder Pigneur These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute A Part 1 of the Canvas Customer Segments Mass market niche segmented diversified multi sided B Part 2 Value Proposition Newness performance customization effectiveness getting job done design brand status price cost risk accessibility convenience C Part 3 Channels Direct indirect partner own phases awareness evaluation purchase delivery after sales D Part 4 Customer Relationships Personal assistance self service automated communities cocreation E Part 5 Revenue Streams Fixed dynamic pricing assest sale usage fee subscription lend rent lease licensing brokerage fee advertising F Part 6 Key Resources Physical intellectual human financial G Part 7 Key Activities Production problem solving platform network H Part 8 Key Partners Economies risk uncertainty acquisition I Part 9 Cost Structure Variable fixed costs cost value driven economies of scale scope