Seminar on Business Model Canvas - Strategic Management Tool to Communicate Business Idea

On 26.05.2022 a session was arranged by the Entrepreneurship Development Cell of ECE department and IIC on “Business Model Canvas - Strategic Management Tool to Communicate Business Idea" through offline mode. The Session was handled by Dr. T. C. Subbu Lakshmi, in-charge of Ideation Incubation Centre, Associate Professor, Department of ECE, Francis Xavier Engineering College from 3.00 PM – 04.25 PM. The Seminar was presided by Mrs J Friska HOD/ECE. ECE students and ECE faculty members participated in this program. The program was coordinated by Dr. R Prem Ananth, IIC Convener, IIC Innovation Ambassador for "Design thinking & Innovations", Assistant professor, Francis Xavier Engineering College.

The guest speaker explained the meaning of Business Model Canvas and highlighted the different segments of BMC namely Key Partners, Key Activities, Key Resources, Value Propositions, Customer Relationships, Channels, Customer Segments, Cost Structure, and Revenue Streams. She explained all the segments elaborately giving lot of live examples relevant to the topic. She said the business models are important for both new and established businesses. They help new, developing companies attract investment, recruit talent, and motivate management and staff. Established businesses should regularly update their business plans or they will fail to anticipate trends and challenges ahead. As the resource person is interested in the innovation and product development, she gave live examples from her experience. The real time examples and the sharing of experience in the field of innovation and product development created greater enthusiasm among the participants and raised few questions to the resource person. The session was very much interesting and thought provoking. All the participants gathered lot of information and gained knowledge on Business Model Canvas. 47 students from ECE and 4 faculty members participated in the seminar.

The interaction between the students and the resource person was highly motivating to all the students. Session ended with the feedback of Students.