Discuss about the Understanding The Business Canvas Model Of Canva Company.
The report helps in understanding the business canvas model of Canva Company that is a free graphic design tool website. The report will analyse the different products and services that is developed by the respective company Canva with the implementation of business canvas model. Proper and effective relationships between the nine building blocks has to be analysed with integrated SWOT and Porter’s Five Forces Analysis of the same.
The main aim and purpose of the report is to identify the different kind of critical success factors that is required to be adopted as to generate sustainability and gain profit in the entire competitive market. Proper analysis of the risks has to be done that will help the company in solving such issues with implementation of strategies.
The structure of the report includes the analysis of the business canvas model of Canva Company with implementation of analysing relationships between the nine building blocks as well.
Canvas Company is the free graphic design tool website that was founded in the year 2012. The respective company uses the drop and drag format as this helps in providing access to million fonts, graphics and photographs. Canva Company has developed the website in such a manner that it can be used by both the professionals and non-designers as well. The respective company was founded by Melanie Perkins in the month of January. The company employs more than 8000 employees and there are above 750,000 users in the very first year itself. The entire company has gained a profit of more than $AU 23.5m and this has helped the company in increasing their revenues as well (“Collaborate & Create Amazing Graphic Design for Free – Canva”, 2018).
There are different kind of products and services of Canva Website that has helped in providing the different individuals different kind of access into different graphic or photographs. The respective company has provided the different customers with different kind of tools that can be used by the customers for print and web media graphics and designs. There are other services provided by the company that includes the education or different classes for the individuals along with their connection with the non-profit organization in an effectual manner (Klang, Wallnöfer & Hacklin, 2014).
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Key Partner Different web hosting companies Project management organizations Human Resource Management Companies |
Key Activities Accurate creation of the technological infrastructure Proper local market management Creating different posters and other designs for the shoppers and creating shopper management Proper maintenance and development of different kind of software Building domain expertise |
Value Proposition Continuous kind of feedback provided to the employees for improving the performance Clear view of the different skills and usage in the company |
Customer Relationships Self service Automated in nature Customized kind of services |
Customer Segments Different kind of customers who wants to open their own websites Small along with medium sized enterprises wherein there are 30-100 employees |
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Key Resources Third party software Sales force Software developers |
Channels Blog and website Emails and Phone HR Best practice Direct Sales |
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Cost Structure · Proper development of software · Hosting of product · Marketing and sales |
Revenue Streams · Customized solution for software · Subscription based service |
Proper and accurate key relationship is essential in nature among the nine building blocks of the Business Canvas Model of Canva website. The customer segments are the heart of business wherein it helps in creating different alliances with the help of the partners. The key activities of BMC will include different kind of core activities with proper understanding of the value proposition of the entire company (Schaltegger, Hansen & Lüdeke-Freund, 2016).
The key resources are essential in BMC wherein it helps in meeting the requirements of the customers and it will help in focusing on quantity such as price along with delivery of goods and services. Proper relationship with the customers is essential in nature as this will help in interacting with customers to understand their specific needs. The customer segments have to be divided into target market wherein they will be able to understand their requirements.
The channels are essential in nature wherein this will include the awareness of the customers relating to products along with analysis of evaluation and satisfaction after the sales of goods and services (Aversa et al., 2015). The cost and revenue streams are essential in the organization that will provide them clear insight into the model of revenue of the organization that will help them in gaining profit in the entire competitive market. The cost structure will help in understanding the minimum turnover that must be made by organization to generate profit (Souto, 2015).
From the SWOT and PESTEL analysis of the business model canvas of the Canva, it can be analysed that there are different kind of competitors and substitute products in the market that can cause huge issues in the organization. Proper analysis is required to be done by Canva as to understand the position of the competitors in the market as this will provide them proper overview of their performances and analyse them accordingly. SWOT analysis has identified different threats that has to be removed by the company with the usage of different kind of strategies such as building the websites and graphic designs with low maintenance costs.
There are different kind of critical success factors of Canva Website Company that includes the following:
There are different kind of downside risks that can cause huge negative issues to the Canva Company that are as follows:
There can be different kind of changes that can be implemented in the company in the future that includes the long-term arrangement that is required to make the website interesting and user friendly in nature. The pay that is made by the users or the customers has to be lessened and lowered in nature as this will help the company in gaining huge amount of profit in the market. Proper analysis is required to be done by the company wherein the maintenance cost is low and there is huge amount of availability of the skilled labours in the market.
Lastly, proper design of the website is required to be done by the company wherein the company will be able to attract more users towards their graphic designing website. Furthermore, there can be implementation of different kind of programs organized by the company for the different users and offers available for the ones who will be learning website and graphic designing from their company as well.
Conclusion
Therefore, it can be concluded that there is an accurate key relationship between the nine building blocks of the company. The different kind of strategies has been implemented by the respective company that has helped them in implementing changes and solve the issues efficiently. Proper critical success factors are essential in nature for the company that will help the company in attracting more customers and gain competitive advantage.
References
Aversa, P., Haefliger, S., Rossi, A., & Baden-Fuller, C. (2015). From business model to business modelling: Modularity and manipulation. In Business models and modelling (pp. 151-185). Emerald Group Publishing Limited.
Bocken, N. M., Short, S. W., Rana, P., & Evans, S. (2014). A literature and practice review to develop sustainable business model archetypes. Journal of cleaner production, 65, 42-56.
Collaborate & Create Amazing Graphic Design for Free – Canva. (2018). Canva.com. Retrieved 28 March 2018, from https://www.canva.com/
DaSilva, C. M., & Trkman, P. (2014). Business model: What it is and what it is not. Long range planning, 47(6), 379-389.
Dijkman, R. M., Sprenkels, B., Peeters, T., & Janssen, A. (2015). Business models for the Internet of Things. International Journal of Information Management, 35(6), 672-678.
Foss, N. J., & Saebi, T. (2017). Fifteen years of research on business model innovation: how far have we come, and where should we go?. Journal of Management, 43(1), 200-227.
Joyce, A., & Paquin, R. L. (2016). The triple layered business model canvas: A tool to design more sustainable business models. Journal of Cleaner Production, 135, 1474-1486.
Klang, D., Wallnöfer, M., & Hacklin, F. (2014). The business model paradox: A systematic review and exploration of antecedents. International Journal of Management Reviews, 16(4), 454-478.
Schaltegger, S., Hansen, E. G., & Lüdeke-Freund, F. (2016). Business models for sustainability: Origins, present research, and future avenues.
Sinkovics, N., Sinkovics, R. R., & Yamin, M. (2014). The role of social value creation in business model formulation at the bottom of the pyramid–implications for MNEs?. International Business Review, 23(4), 692-707.
Souto, J. E. (2015). Business model innovation and business concept innovation as the context of incremental innovation and radical innovation. Tourism Management, 51, 142-155.
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