Value canvas

Revision as of 11:14, 9 April 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 for project management, 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

- Value canvas (about value canvas and its purpose)

- Addition to the business model canvas (The cooperation between the models and how its fits)

- Using Value canvas in project management to create value (The idea of how value canvas can be used to create value for both Project managers / developer)

- The needs of businesses to use the Value canvas A description of the importance of operating businesses through the use of Value canvas.

Application

- Business model canvas(BMC) and relations to Value canvas and its applications.

(about BMC and how value canvas is integrated to BMC and insight to the bigger picture to understand cooperation between them)

- Value Canvas to vizulize, design and test.

(about value canvas, value proposition, costumer profile, costumer jobs, value map, value proposition canvas, value proposition design)

Costumer profile:

The costumer profile constitutes of the right hand side of the value proposition canvas. The costumer profile visualizes the costumers/stakeholder segment that is intended to create value for. This is done through description of the pains and gains.

Costumer jobs

- Pains

- Gains

Value map:

- Products and Services

- Gain creators

- Pain relievers

- The practice of value canvas and how The Customer Profile and value map helps businesses understand their costumers and benefits from it.

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.