Defining the terms of a business model

Forum Description

While some of the terms used in the three models of business – the traditional product-oriented system, McKinsey’s value delivery system and the business model canvas – may be familiar or obvious to you, it may be useful to check on your understanding in Activity 1 before continuing.

Activity 1 Describing the business model canvas

Timing:Allow about 15 minutes

First watch the short video which defines a number of terms and brings the business model canvas to life. Then match the definitions to the terms, which follow.