Value canvas

Revision as of 14:46, 17 February 2023

Developed by Ali Abdul-Ghani - s184640

Abstract

The following article will introduce "Value canvas" and it's context as a analytical tool in project asssesment. The “Value Canvas” is a business model tool developed by Alex Osterwalder. The model was developed in addition to the existing “Business Model Canvas (BMC)”. By outlining the tasks, the businesses use the canvas to visualize, design and test, how to create value for customers, by describing, the jobs they want to accomplish, the gains they desire, and the pains the wish to avoid. ^[1] The Values Proposition Canvas is a pivotal element of business model canvas (BMC) and focus on two building blocks from the BMC. The Canvas is composed of two parts The “Costumer Profile” and the “Value map”. ^[2] The costumer profile is divided to three parts, that describes the jobs the costumers trying to get done, and the pains and gains. The value map lists the products and services the value propositions build on, by describing the way the products, services and features are pain relievers and how they eliminate, reduce, and minimize costumers’ concerns, and outline which way these are gain creators, by how they produce, increase, or maximize outcome and benefits, that the costumers desire. A “Fit” can be achieved when a clear connection between what matters to costumers and how products, services and features ease pain and create gains. The costumer profile might contain numerous jobs, gains and pain, however the value map highlights the most important ones. ^[3] Values Proposition Canvas can be utilized and used by different business in all devolvement stage, to obtain a better understanding of their costumers needs and utilize this to develop a better value proposition. Additionally, this tool can help enhance better communication between the stakeholders, for a progressive succes.

Big Idea

- The Value canvas and its purpose

- Addition to the business model canvas

- Using Value canvas in project management to create value

- The needs of businesses to use the Value canvas

Application

- Value Canvas to vizulize, design and test.

Costumer profile:

Costumer jobs

- Pains

- Gains

Value map:

- Products and Services

- Gain creators

- Pain relievers

- The practice of value canvas

Limitations

- Application on divergent Companies

- Using Value canvas for best benefits in combination with other tools and not as a singular tool

- Value canvas as a tool and not a recipe for succes

- Limited information about costumors and their behavior

Annotated bibliography

1. ↑ Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2014). Value proposition design. Wiley.
2. ↑ Kyhnau, J., & Nielsen, C. (2015). Value Proposition Design: How to create products and services customers want. Journal of Business Models, 3(1), 81–89. https://doi.org/10.5278/ojs.jbm.v3i1.1105.
3. ↑ Strategyzer. (2016, November 22). The Value Proposition Canvas - 9 Steps to Creating Products Customers Love. YouTube. https://www.youtube.com/watch?v=ReM1uqmVfP0.