Business Model Canvas Critical Reflection

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Critical Reflection Paper

“Business Model Canvas”

Ing. María Paula Helo
Intercultural Management and International Negotiation
Professor: Ricardo Altimira

Madrid, Spain
September 20th 2012

“A business model (BM) describes the rationale of how an organization creates, delivers and captures value”. Considering a BM is part of an organization’s strategy, the previous statement invites to the importance of having a model that is accurate and precise, yet easy to follow and develop. In other words, a model that uses a common language that works for every type of company regardless of its sector, antiquity or nature (public or private). This is precisely the objective of the Business Model Canvas (BMC). Using the main pillars upon which a company is based, this tool helps to organize and follow your individual/group thoughts as entrepreneurs, giving room for feedback and improvement in order to guarantee a success/innovation. Using principles of the BMC, this reflection will relate its application to my career/professional goals, and also for the ETP’s.

As an engineer, I’ve worked in consulting for medium size and large companies; nonetheless, my goal is to start a consulting company in Colombia. What better way to ideate it, than with a model that has proved to be successful for companies like Ericsson, Deloitte, McKinsey, etc.?. It is important to gather a group of partners with diverse perspectives to brainstorm using the canvas, and develop business model prototypes. This DT exercise along with a model that clearly defines the building blocks that the company should conceive, will allow me to set a solid foundation for my project. This is important, for there are multiple engineering-consulting firms, making the innovation process mandatory to add value to the company and be successful.

I believe ETP’s should be conceived as companies that need to apply a BM in general; particularly, the BMC is a straightforward way for it. It has been...
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