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.contributorAalto-yliopistofi
dc.contributorAalto Universityen
dc.contributor.authorSydänmaa, Lotta-Riina
dc.contributor.departmentJohtamisen laitosfi
dc.contributor.departmentDepartment of Management Studiesen
dc.contributor.schoolKauppakorkeakoulufi
dc.contributor.schoolSchool of Businessen
dc.date.accessioned2016-08-16T11:35:53Z
dc.date.available2016-08-16T11:35:53Z
dc.date.dateaccepted2016-05-17
dc.date.issued2016
dc.description.abstractDisruptive 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.ethesisid14573
dc.format.extent126
dc.identifier.urihttps://aaltodoc.aalto.fi/handle/123456789/21395
dc.identifier.urnURN:NBN:fi:aalto-201609083609
dc.language.isoenen
dc.locationP1 I
dc.programme.majorMSc program in Entrepreneurshipfi
dc.programme.majorMSc program in Entrepreneurshipen
dc.subject.heleconyrittäjyys
dc.subject.heleconentrepreneurship
dc.subject.heleconliiketalous
dc.subject.heleconbusiness economics
dc.subject.heleconmallit
dc.subject.heleconmodels
dc.subject.heleconinnovaatiot
dc.subject.heleconinnovations
dc.subject.heleconkilpailu
dc.subject.heleconcompetition
dc.subject.heleconyritykset
dc.subject.heleconcompanies
dc.subject.heleconkasvu
dc.subject.helecongrowth
dc.subject.heleconstrategia
dc.subject.heleconstrategy
dc.subject.heleconsuunnittelu
dc.subject.heleconplanning
dc.subject.keywordbusiness models
dc.subject.keywordbusiness modelling
dc.subject.keywordbusiness model canvas
dc.subject.keywordbusiness model innovation
dc.subject.keywordcompetition
dc.subject.keywordearly-stage start-up
dc.subject.keywordinnovation
dc.subject.keywordstart-up companies
dc.subject.keywordstrategic planning
dc.titleEvaluating the effectiveness of the Business Model Canvas as a business modelling tool for an early-stage start-up: Case Cosmicsen
dc.typeG2 Pro gradu, diplomityöfi
dc.type.dcmitypetexten
dc.type.ontasotPro gradu tutkielmafi
dc.type.ontasotMaster's thesisen
local.aalto.idthes14573
local.aalto.openaccessno
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