Relationship between Business Model Canvas and business strategy : an investigation on how strategic elements can be incorporated to support start-ups´ growth
Piontek, Julia (2022)
Piontek, Julia
2022
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi-fe2022060141778
https://urn.fi/URN:NBN:fi-fe2022060141778
Tiivistelmä
The assignment is concentrated on finding gaps and links between Business Model Canvas and business strategy. The Business Model Canvas is geared towards start-ups / entrepreneurs. It is the starting point when a business is to be founded. Surveys have shown that start-ups have difficulties with the growth of the operational business in the first years. Notably, when all necessary resources and activities were previously considered with the assistance of the Business Model Canvas. The purpose of this research is to expose why the operational business is blocked. In addition, a way to integrate the business strategy into the Business Model Canvas was sought.
The research was initiated to understand the difference between Business Model Canvas and business strategy. Since business strategy has a strong connection to strategic management, it was continued to look at this in-depth as well. Qualitative research was the dominant method to gain and collect distinct data. It was mainly based on literature from experts in business and strategy. In addition, videos and blogs were taken into account as well to collect a thorough understanding. Several models provided a comprehensive knowledge of how strategy is taking place from the theoretical perspective.
Interesting insights were gained by the usage of questionaries. Based on the findings and while studying the Business Model Canvas in-depth, further strategic elements were implemented. Application of a testing phase exposed, on the one hand, that the optimized canvas is applied effortlessly. On the other hand, it was tested if a vision can be truly formulated as it was discovered in the prior survey. Thereby longer discussions were conducted about the importance and meaning of a vision in the start-up scene. It was revealed that a mission was preferred rather than a vision.
Through the research, it was shown a relationship exists between Business Model Canvas and strategy. In addition, implementation of further strategic elements is providing a solid framework. Sophisticated questions and new categories lead users to think thoroughly about the idea. While next steps are derived from that, proper business strategies can be defined as well as circumstances better overcome, especially in the beginning phase of business.
The research was initiated to understand the difference between Business Model Canvas and business strategy. Since business strategy has a strong connection to strategic management, it was continued to look at this in-depth as well. Qualitative research was the dominant method to gain and collect distinct data. It was mainly based on literature from experts in business and strategy. In addition, videos and blogs were taken into account as well to collect a thorough understanding. Several models provided a comprehensive knowledge of how strategy is taking place from the theoretical perspective.
Interesting insights were gained by the usage of questionaries. Based on the findings and while studying the Business Model Canvas in-depth, further strategic elements were implemented. Application of a testing phase exposed, on the one hand, that the optimized canvas is applied effortlessly. On the other hand, it was tested if a vision can be truly formulated as it was discovered in the prior survey. Thereby longer discussions were conducted about the importance and meaning of a vision in the start-up scene. It was revealed that a mission was preferred rather than a vision.
Through the research, it was shown a relationship exists between Business Model Canvas and strategy. In addition, implementation of further strategic elements is providing a solid framework. Sophisticated questions and new categories lead users to think thoroughly about the idea. While next steps are derived from that, proper business strategies can be defined as well as circumstances better overcome, especially in the beginning phase of business.
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