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Assignment: Finding Osterwalder American Public University

The idea of a business model is a fairly new concept. By definition, a business model is "a configuration (activity systems) of what the business does (activities) and what it invests in (resources) based on the logic that drives the profits for a specific business" (Chatterjee, 2013, p. 97). Others have defined a business model as a "system of independent activities that transcends the local firms and span its boundaries" (as cited in Michelini & Fiorentino, 2012, p. 565). Expanding on the business model idea, Alexander Osterwalder developed the Business Model Canvas business modeling methodology in 2008 by elaborating on his 2004 doctoral thesis, eventually publishing it in a practitioners' guide in 2010 (Leshke, 2013, p. 19).

The framework of the business model canvas can be defined in terms of nine ‘building blocks'. They are: value propositions or, the goods and services that are being offered and the advantage they have; key activities or, the activities that are considered to be of utmost importance in accomplishing the value propositions; key resources or, the resources needed in order to create an expected customer value; partner network or, the relationship that is essential to the value proposition's completion; customer segments or, the target market that the model is expected to service; channels or, the channels of distribution that are being proposed; customer relationship or, the types of relationships that are expected of the customers; cost structure or, the expected cost and expense structure characteristics; and revenue streams or, how the firm makes its money including how it is priced and paid out (Leshke, 2013, p. 19).

Depending on the needs of an organization, there are many types of business models that can be used. They can be "driven by efficiency or perceived value...[and] can extend the efficiency across the entire values added chain by connecting suppliers, customers, and even other stakeholders to a common point" (Chatterjee, 2013, p. 98). The generation of a business model can be a difficult task for an organization because it could make a difference in their successes. Even further, the idea of business model innovation, where a firm searches for "new logics of the firm and new ways to create and capture value for its stakeholders...[by focusing] primarily on finding new ways to generate revenues and define value propositions for customers, suppliers, and partners" (as cited in Casadesus-Masanell & Zhu, 2012, p. 464).

Osterwalders business model canvas is a fantastic building block for an organization. This is because it allows organizations to get people involved in its creation. As Osterwalder suggests, the canvas can be a "practical, hands-on tool to foster understanding, creativity, discussion, and analysis" (Leshke, 2013, p. 19). In fact, it can even be used to and expanded to create other business models that may better suit the needs of the organizations like the business model map that Leshke discusses in his article (Leshke, 2013, p. 20). I do not necessarily see any limitations to the business model canvas for an organization, except for when you look at the opportunities that business model innovation can offer a company.

References
•Casadesus-Masanell, R. & Zhu, F. (2013). Business model innovation and competitive imitation: the case of sponsor-based business models. Strategic Management Journal, 34(4), 464-482. Retrieved from http://search.ebscohost.com.ezproxy1.apus.edu/login.aspx?direct=true&db=bth&AN=85761364&site=ehost-live

•Chatterjee, S. (2013). Simple rules for designing business models. California Management Review, 55(2), 97-124. Retrieved from http://search.ebscohost.com.ezproxy1.apus.edu/login.aspx?direct=true&db=bth&AN=85276605&site=ehost-live

•Leschke, J. (2013). Business model mapping: a new tool to encourage entrepreneurial activity and accelerate new venture creation.

•Journal of Marketing Development and Competitiveness, 7(1) 18-26. Retrieved from https://edge.apus.edu/access/content/group/management-common/Management/MGMT600/Readings%20and%20Articles/Wk01assgn-Business%20Model%20Mapping-2013.pdf
Michelini, L. & Fiorentino, D. (2012). New business models for creating shared value. Social Responsibility Journal, 8(4), 561-577.

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