Business Model Canvas - Key activites PDF

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Business Model Canvas - Key activities The business Model Canvas (BMC) is a method of strategic management for developing and documenting the business’ potential model/s. It is visually represented through highlighting different aspects of the business, with one of the integral structures being key activities. Key activities refers to what tasks must be undertaken and completed in order to allow the business model to function efficiently. At a basic level, it encloses whether the activities of the business consists of producing a product, providing a service or a combination of both, and is therefore, without a doubt vital to the business’ success. Key activities vary between business models, however are essentially the building blocks that creates a bridge between the business’ value propositions and the customer segments’ needs (Anastasia 2015). Key activities for our business idea entails three key aspects; production, problem solving and platform/network all of which work cohesively to successfully deliver a tangible business idea. Production is related to the design, manufacturing and distribution of the product. Our business idea is an ITF reusable barcode sticker that students can stick on the back of their students id’s. Students can participate in volunteering activities around campus e.g. Orientation and log hours which then can be converted into UTS dollar/ discounts that can be used at university cafes, gym, bars and shops. Effective production is needed to be incorporated as part of the key activities for this business idea through the design, manufacturing and distribution of the product. ITF stickers, under key activities need to be effectively and efficiently manufactured in order for the business to successfully operate. This can be achieved through working in conjunction with a manufacturing plant that offers cheap production, yet are still reliable and produce a quality product. As the business idea only entails producing one type of product, the goods can be sent straight from the manufacturer to the university to eliminate unneeded and expensive intermediaries e.g. wholesalers and retailers. Business Wire 200 take this notion one step further through discussing the “rapid deployment of advanced service level management” that could “support integrated reports…. And predict the impact on service delivery of business changes”. Storage and distribution of this product can all be done through the university and as a result the design, development and distribution ensures that costs are kept to a minimum and the business idea can successfully operate. Moreover, problem solving is another vital aspect of key activities, which can be implemented to detect any issues about the operation of the business, further ensuring success. This stage of key activities consists of finding methods to make production of the ITF stickers more cost effective and researching companies that may be interested in partnering with the business. Additionally, the customer experience can be enhanced at this stage through investigating possible answers to any queries, concerns and questions that may be raised during the process. This ultimately plays an essential role in the business’ success as

reiterated by Mills 1997, who stated that success is “ an unqualified dedication to excellence in serving customers and their needs”. Platform/network is the final aspect of key activities that can help promote the success of the business idea. This component is of utmost importance to the business’ success as it is the face of the product and the first point of contact/impression on the customer. Our business idea, aims to be promoted by UTS, through a variety of mediums including flyers/brochures, online (SNS e.g. Instagram) and word of mouth. “Who do you serve? What are his needs?” (Millis 1997) are examples of questions that should be asked throughout the key activities process. Additionally through the creation and constant updating of a website, solely dedicated to the product the business are able to effectively marketing the product, hence increase sale and ultimately lead to the business’ success.

References: ● High Tech Writers, Business Editors. 2000, ‘BMC Software's PATROL 2000 Redefines Service Level Management With a Continuous Improvement Process

Approach; BMC Software Guarantees Results with PATROL 2000’, Business Wire, NYC, pp. 46-48 ● Mills, D. 1997, ‘Caring is a Key to Business Success’, Truck News, Vol.17, no. 8, p. 67 ● Unknown, A. 2015, ‘Key Activities Block in Business Model Canvas’, Cleverism, Deco Agency, viewed 16 May 2019,

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