Business is fast paced with disruptive technologies increasingly driving industry changes. In recent research, Boston Consulting Group examined the life span of companies, noting the rising mortality of companies both young and old.
To minimise the risk associated with disruptive technologies, understand your business model and its components. One strategic tool for this assessment is the business model canvas, a strategic management and lean startup tool, developed from research by Alexander Osterwalder that was in development as far back as 2004.
The business model canvas provides a one page template to enable business owners to assess a company’s value proposition, understanding customer segments, identify key supply channels and assess cost structures. By working through the business model canvas with a business partner, adviser or facilitator, business owners can identify strategic issues with current operations, explore adaptation opportunities and develop plans to implement change to address these issues.
In August 2015, Hanrick Curran hosted Brisbane software developers in a workshop run by David Nimmo. The event provided the opportunity for likeminded individuals to come together and learn more about business model canvas as well as network other IT professionals. A copy of the business model canvas can be found here.
Hanrick Curran is fast developing a reputation as one of the top firm of accountants in Queensland specialising in accounting and business advisory for the information, communication and technology sector. Through our involvement with a large number of businesses in the ICT sector we have developed a thorough knowledge of the accounting requirements of the ICT industry, allowing us to provide our clients with services tailored to their particular needs. For further information about the business model canvas or for support to develop and grow your ICT business, please contact Matthew Green or John Kotzur. For your opportunity to attend value add workshops on the business model canvas and other business related topics review our calendar of events or subscribe here.