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Business Model Canvas

Updated on January 3, 2024
Business Woman Working Online or Study Education Using Laptop and Note Pad Remote Working

The Business Model Canvas (BMC) is a strategic management tool to quickly and easily define and communicate a business idea or concept. The standard framework for a business-model canvas was developed by Alexander Osterwalder and Yves Pigneur in their book Business Model Generation.

It is a one-page document that works through the fundamental elements of a business or product, structuring an idea in a coherent way. It allows people to get an understanding of your business and to go through the process of making connections between what your idea is and how to make it into a business. Therefore, this tool is very useful to quickly and easily define and communicate a business idea.

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