A session on Business Model Canvas under the aegis of IIC (AFMR) on May 28 and 29, 2021

Department: MBA

Date of Event: 28^th and 29^th May, 2021

Time of Event: 10: 30 am to 11: 30 am (on both days)

Venue: Online-Google Meet

Speaker/Convener/Coordinator: Prof. Snehal Phatak

Audience Profile: 42 Students of Sem 2 MBA Department.

 

IIC – Acropolis Faculty of Management and Research (AFMR), Indore hosted a session on Business Model Canvas conducted by Prof. Snehal Phatak in the online mode. The motive of this talk was to make the students appreciate the basic BMC and its applicability for a new as well as an established business.

Prof. Snehal Phatak explained the BMC model to the students with the help of a power point presentation and a few videos from the Wadhwani foundation’s NEN module. The BMC is a very accepted business planning tool because you can test your Business concept and precedes the cumbersome process of preparing a detailed Business plan.

All the 9 blocks of the basic Business model Canvas were explained taking examples from the business world. Changing any one block leads to changes in the complete BMC. BMC can be made on paper/software or even using post-it notes. The students found the session very interesting and interactive.

Learning Outcomes:

• BMC acts like a broad framework for any new/existing business and is an iterative process.

• It helps an entrepreneur to communicate goals to his team and customers and to focus what his business does and will continue doing in future.

 

 

Report Prepared by: 

Prof. Snehal Phatak, Convener-IIC, AFMR