![[D2.1-Lean-Startup-and-BMC-content-24-1080x675-2.jpg]] The Business Model Canvas is a strategic management tool that provides a visual framework for developing, describing, and analyzing [[business model|business models]]. It helps entrepreneurs and business leaders systematically understand and design their business models by breaking them down into nine essential components: 1. **Customer Segments**: Defines the different groups of people or organizations a business aims to reach and serve. 2. **Value Propositions**: Describes the bundle of products and services that create value for specific customer segments. 3. **Channels**: Outlines how a company delivers value propositions to its customer segments through communication, distribution, and sales channels. 4. **Customer Relationships**: Explains the types of relationships a company establishes with specific customer segments. 5. **Revenue Streams**: Represents the cash a company generates from each customer segment. 6. **Key Resources**: Lists the most important assets required to make the business model work. 7. **Key Activities**: Describes the most important actions a company must take to operate successfully. 8. **Key Partnerships**: Identifies the network of suppliers and partners that help make the business model work. 9. **Cost Structure**: Summarizes all costs incurred to operate a business model. The Business Model Canvas was created by Alexander Osterwalder in collaboration with Yves Pigneur, as part of the work detailed in their book "Business Model Generation," published in 2010. This tool has gained widespread popularity for its simplicity and effectiveness in facilitating understanding, creativity, discussion, and analysis of business models across various industries. An editable version of the Business Model Canvas, divided into desirability, feasibility and viability risks, is available at this [address](https://docs.google.com/presentation/d/1FZ9Idb2aqv2px3P5i_NR4bfA6HuxpavLBKj_EC7wsqU/copy).