Business Model Canvas: Visual framework for business model development

The Business Model Canvas is a strategic management tool that is used to develop new or document existing business models and visualises nine key areas of a company such as value propositions, customer relationships, sales channels and revenue streams. This tool enables entrepreneurs and managers to clearly structure their business ideas, challenge assumptions and understand the relationships between the different aspects of their business. The application of the Business Model Canvas promotes innovation processes, facilitates strategy adjustment and supports the identification of key factors for corporate success.