Case 4

Watch the video: https://youtu.be/IP0cUBWTgpY

Fill out two more sections for the business of your business model canvas: Key Resource Types, and Key Activities. Just write down what you would actually write down for your business, in a way that your team will understand.

Key Resource Types

Key resources reflect the most important assets of your business. Identifying them will help you in protecting these assets and making the most of them.

Here are 3 common resource types:

1. Physical resources include vehicles, offices or stores, data center, manufacturing equipment
2. Intellectual Property assets brands, copyrights, patents, platforms and even customer databases.
3. Human Capital representing your team. In most businesses, this is your most important asset as the team helps in keeping innovations coming in and in providing your clients with a great experience

Identifying your most important assets in your business and protecting them is essential to making your business function well.

Key Activities your Business Engages in

There are many daily tasks that are done within the business, but it is always important to be clear about what are the key activities that need to be conducted within the business to deliver on the value proposition that you are promising your clients. By identifying these activities, it would help you to prioritize the efforts taking place in your business.

As part of the Business Model Canvas template, some of the common activities in a business include:

1. Production activities which focus on the design, manufacturing, and delivery of a product or service – common in manufacturing
2. Problem-solving which covers a lot of services businesses that work on addressing customer problems
3. Platforms bring together users and clients on a common space for them to interact – Credit card companies, Software platforms, and online merchants are examples that have platforms as a key activity

Reviewing your key activities and improving performance is an essential part of innovating a better product or service to your clients.