Additional videos week 1: BMC & SWOT

Question 1

Name 5 characteristiscs of a business model canvas

Answer 1

1. Offers holistic view of how business is conducted
2. Articulates firm’s value creation by exploiting business opportunities
3. Describes interlinked activities in which firm excels
4. Identifies unit of business that delivers customer value
5. Reveals how the value capture problem is solved

Question 2

What are the different elements of a business model canvas?

Answer 2

1. Customer segments
2. Value proposition
3. Channels
4. Customer relationships
5. Revenue streams
6. Key resources
7. Key activities
8. Key partners
9. Cost structures

Question 3

What are customer segments in the BMC?

Answer 3

Which groups of customers do you want to create value for?

Question 4

What is the value proposition in the BMC?

Answer 4

which products and services will I provide to create value for my targeted customers

Question 5

What are channels in the BMC?

Answer 5

which touching points do I seek to deliver my products and services to my customer

Question 6

What are customer relationships in the BMC?

Question 7

Whtare revenue streams in the BMC?

Answer 7

what type of relationship do I seek with my customer (transactional or durable)

Question 8

What are key resources in the BMC?

Answer 8

which assets form indispensable infrastructure for my business?

Question 9

What are key activities in the BMC?

Answer 9

which activities do I need to execute excellently to maximize customer value

Question 10

What are key partners in the BMC?

Answer 10

Which partners do I need to team up with to perform key activities

Question 11

What is the cost structure in the BMC?

Answer 11

fixed costs of ownership and variable costs of performed activities

Question 12

Name the three phases of a SWOT Analysis

Answer 12

1. Analysis
2. Synthesis
3. Implementation

Question 13

What is the analyze phase in a SWOT Analysis?

Answer 13

uncover relevant SWOTs through brainstorming, desk research, field research, insider and external stakeholders interviews, social media, product reviews etc.

Question 14

What is the synthesis phase in the SWOT analysis?

Answer 14

identify how SWOTs interact by using correlation tables, interaction grids etc.. Piece together elements of analysis phase in a coherent narrative in regards to strategy

Question 15

What is the implementation phase in the SWOT Analysis?

Answer 15

develop narrative of synthesis phase into concrete action plans

Question 16

Name two ways of implementing the findings of the synthesis phase in a SWOT analysis?

Answer 16

1. Matching
2. Converting

Question 17

What is matching in a swot analysis context?

Answer 17

create competitive advantages by applying strengths and opportunities

Question 18

What is converting in a SWOT analysis context?

Answer 18

convert weaknesses into strengths, or threats into opportunities

Question 19

What is the key lesson from a SWOT Analysis?

Answer 19

Synthesis and implementation must follow analysis.