This assignment requires the completion of a business model canvas for a ‘Wicked Problem’. The business model canvas is a strategic management and lean startup template for developing new or documenting existing business models. It is a visual chart with elements describing a firm’s or product’s value proposition, infrastructure, customers, and finances.
The assignment involves writing a 5-7 page paper using the business canvas model as an aid in identifying key implementation/execution issues for the solution to the Wicked Problem. The paper should include an introduction, a discussion of each of the nine building blocks of the business canvas (Key Partners, Key Activities, Key Resources, Cost Structure, Value Proposition, Customer Relationships, Channels, Customer Segments, and Revenue Streams), and a conclusion. The conclusion should integrate the responses to the building blocks and highlight particular implementation/solution execution challenges.
The business canvas does have building blocks for cost structure and revenue streams. While these should be addressed to the best of the student’s ability, a detailed financial analysis or forecast of the Wicked Problem solution is not required. For these two blocks, the student may apply their best qualitative judgement along with any rules of thumb or general data they may have identified in their research that bolsters their responses to these two questions.
A template for a business canvas as well as a list of the building blocks and the individual questions to be addressed is provided for download.