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The business model canvas is a strategic management template that is used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
The Lean Canvas is a version of the Business Model Canvas adapted by Ash Maurya in 2010 specifically for startups. [26] [30] The Lean Canvas focuses on addressing broad customer problems and solutions and delivering them to customer segments through a unique value proposition. [31] "Problem" and "solution" blocks replace the "key partners" and ...
Lean LaunchPad is an entrepreneurship methodology created by Steve Blank to test and develop business models based on querying and learning from customers. It is said to be based on the scientific method and combines experiential learning with “The three building blocks of a successful lean startup”: Alexander Osterwalder's "Business Model Canvas", Steve Blank's "Customer Development Model ...
Menu engineering or Menu psychology, is the design of a menu to maximize restaurant profits. [ 1 ] [ 2 ] [ 3 ] This also applies to cafes, bars, hotels, food trucks, event catering and online food delivery platforms.
Lean thinking was born out of studying the rise of Toyota Motor Company from a bankrupt Japanese automaker in the early 1950s to today's dominant global player. [4] At every stage of its expansion, Toyota remained a puzzle by capturing new markets with products deemed relatively unattractive and with systematically lower costs while not following any of the usual management dictates.
The customer development process assumes that most of the initial assumptions of the business model will be wrong. [20] [24] Pivoting involves recognizing that the original business model is not working, then deciding what changes to make and taking action on those changes. This process is easier to visualize when the business model is drawn out.
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Lean project management is the application of lean concepts such as lean construction, lean manufacturing and lean thinking to project management. [1] [2]Lean project management has many ideas in common with other lean concepts; however, the main principle of lean project management is delivering more value [3] with less waste in a project context.
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