On the first day of training course, students were presented with the concept of entrepreneurship, innovation, start-up company, as a way of determining a business model. Business model describes the rationale of how an organization creates, delivers and captures value. The training course thoroughly explains the use of nine compositional blocks every business model should consist of, as follows; Customers and Value proposition; Channels; Customer relationships; Revenue Streams; Key resources; Key Activities; Key partners; Cost structure. This day of training was also predicted for the students to get familiar with the concept of business model validation. Environment chart, Business model chart as well as Value chart were conceptually specified. Emphasis was put on the concepts of Customer profile and Value map. Profile (of the segment) of buyers describes a certain segment of ones business model in a detailed and structural manner. Buyers are observed from the aspect of: problems/needs they have, wishes and jobs they need to be done. The chart of estimated value describes the characteristics, specific predicted values ones business model should deliver. The value is presented through: products and service, elements solving the problem (necessity) (eliminates buyers’ pain) and elements meeting buyers’ needs.

Agenda
List of participants