Developing Business Model Canvas and Customer Journey Mapping

On the 12th of July 2023, a seminar was conducted by Mr. Dipan Sahu, Asst. innovation director ministry of Education’s Innovation cell AICTE, New Delhi. The seminar focused on providing participants with a comprehensive understanding of various tools and frameworks essential for developing successful business models and innovative strategies. The topics covered during the seminar were Technology Readiness Level (TRL), Value Proposition Canvas, Consumer Journey Map, Innovation Matrix, and Business Model Canvas.

The scale ranges from TRL 1, representing basic principles, to TRL 9, indicating full commercial deployment. Participants learned about the different TRL levels and their significance in evaluating technological innovations and their potential for market adoption.

Next, Mr. Sahu introduced the concept of the Consumer Journey Map. He explained that understanding the customer’s journey and touch points throughout their interaction with a product or service is crucial for enhancing their experience. Participants were given the knowledge through the process of creating a consumer journey map, which involves identifying various stages, key actions, emotions, and pain points encountered by the customer. This tool enables businesses to identify areas for improvement and optimize the customer experience.

Finally, the seminar concluded with an in-depth discussion on the Business Model Canvas. Mr. Sahu emphasized that a well-defined business model is crucial for any organization’s success. The Business Model Canvas is a strategic tool that helps entrepreneurs and innovators visualize and design their business models. It consists of nine key elements, including customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure. Participants learned how to

In conclusion, the seminar conducted by Mr. Dipan Sahu provided participants with valuable insights into various tools and frameworks essential for successful business innovation and strategy development. Attendees gained a thorough understanding of Technology Readiness Level (TRL), Value Proposition Canvas, Consumer Journey Map, Innovation Matrix, and Business Model Canvas. The knowledge acquired during the seminar will undoubtedly assist the participants in developing and refining their business strategies, improving customer experiences, and encouraging innovation within their organizations and the seminar was wrapped up around 12pm.