Evaluating the effectiveness of the Business Model Canvas as a business modelling tool for an early-stage start-up: Case Cosmics

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dc.contributor Aalto-yliopisto fi
dc.contributor Aalto University en
dc.contributor.author Sydänmaa, Lotta-Riina
dc.date.accessioned 2016-08-16T11:35:53Z
dc.date.available 2016-08-16T11:35:53Z
dc.date.issued 2016
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/21395
dc.description.abstract Disruptive business model innovations have not only reshaped entire industries but also created new ones during the past ten years. The changing business environment has increased the need to consider not only how to address customer needs more astutely, but also how to capture value from innovations. Nowadays great products or services are not enough; they must be wrapped into great business models. The objective of this study was to investigate the effectiveness of the Business Model Canvas as a tool for business modelling for early-stage start-ups. Principally, the study derived from the real needs of an early-stage start-up Cosmics, which focuses on developing their business model. Additionally, in the literature, the effectiveness of the Business Model Canvas framework has not been evaluated in the start-up scene in terms of business modelling and business model innovation. However, in today's dynamic markets, start-ups must develop and adopt innovative business models to survive. The research method consisted of a qualitative single-case study. The study focused on examining the business modelling process in an early-stage start-up Cosmics, which took part at an eight-week master's level course Introduction to IT Business and Venturing at Aalto University. During the course, students used the Business Model Canvas to describe, improve and transform start-up business models. The study was conducted by using multiple sources of evidence; interviews with process owners and start-up co-founders, direct observations, participant-observations, and document retrievals. To analyze the data, pattern recognition and pattern matching were utilized. The findings indicated that the Business Model Canvas is fairly an efficient tool for business modelling for an early-stage start-up. The BMC proved to provide a common language for a multidisciplinary start-up team and it was identified to cater all phases of the business modelling process. Moreover, the BMC enables working on a conceptual and visual level that can promote innovation and foster the efficiency of the framework. However, the biggest issue with the BMC concerned the importance of human capital; the framework does not fully support a start-up team as an essential part of a business model. Additionally, the building blocks have limitations in terms of providing relevant content to a start-up. Consequently, a new business model canvas for early- stage start-ups, The Early Startup Canvas, was developed to confront these limitations. en
dc.format.extent 126
dc.language.iso en en
dc.title Evaluating the effectiveness of the Business Model Canvas as a business modelling tool for an early-stage start-up: Case Cosmics en
dc.type G2 Pro gradu, diplomityö fi
dc.contributor.school Kauppakorkeakoulu fi
dc.contributor.school School of Business en
dc.contributor.department Johtamisen laitos fi
dc.contributor.department Department of Management Studies en
dc.subject.keyword business models
dc.subject.keyword business modelling
dc.subject.keyword business model canvas
dc.subject.keyword business model innovation
dc.subject.keyword competition
dc.subject.keyword early-stage start-up
dc.subject.keyword innovation
dc.subject.keyword start-up companies
dc.subject.keyword strategic planning
dc.identifier.urn URN:NBN:fi:aalto-201609083609
dc.type.dcmitype text en
dc.programme.major MSc program in Entrepreneurship fi
dc.programme.major MSc program in Entrepreneurship en
dc.type.ontasot Pro gradu tutkielma fi
dc.type.ontasot Master's thesis en
dc.subject.helecon yrittäjyys
dc.subject.helecon entrepreneurship
dc.subject.helecon liiketalous
dc.subject.helecon business economics
dc.subject.helecon mallit
dc.subject.helecon models
dc.subject.helecon innovaatiot
dc.subject.helecon innovations
dc.subject.helecon kilpailu
dc.subject.helecon competition
dc.subject.helecon yritykset
dc.subject.helecon companies
dc.subject.helecon kasvu
dc.subject.helecon growth
dc.subject.helecon strategia
dc.subject.helecon strategy
dc.subject.helecon suunnittelu
dc.subject.helecon planning
dc.ethesisid 14573
dc.date.dateaccepted 2016-05-17
dc.location P1 I


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