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Key resources can be tangible or intangible, and are often unique to the company’s industry and specific business model. In the context of the Business Model Canvas (BMC), Key Resources are the essential elements that support the execution of a business model.
The Key Resources describe the most important assets required to make a business model work. These resources allow an enterprise to create and offer a Value Proposition, reach markets, maintain relationships with Customer Segments, and earn revenues.
This post covers the next building block of the Business Model Canvas, which is Key Resources. In this post, we will look at 1) key resources, 2) types of key resources, 3) key resources and value propositions (section added), 4) key resources according to types of businesses, and 5) two case studies.
Check out the Amazon Business Model Canvas to identify key components of their business strategy, including customer segments, value propositions, and revenue streams. What best practices do you follow when creating a business model canvas?
Key Resources in the business model canvas are the main inputs and assets the business uses to function effectively. Phrased differently it is what you need. For example, The key resources overlap to a certain extent with tangible and intangible assets on the balance sheet. However, it goes much further.
The Business Model Canvas is a strategic tool that allows businesses to visualize, design, and innovate their business model. One of the crucial components of this canvas is the 'Key Resources' section.
Key resources can be broadly categorized into four main types: Physical, Intellectual, Human, and Financial. Each type of resource plays a distinct role in the business model. 1. Physical resources are tangible assets that a company uses to produce and deliver its products or services. Here are some physical key resources examples.
Key Resources can be physical, financial, intellectual, human, and relational. It all depends on your business model. The management of key resources is in-house, meaning it’s up to you to determine the resources necessary for your business to run.
These 9 pillars represent the four main aspects of a business (customers, value, infrastructure, and finances), including: The Business Model Canvas serves as a common language, allowing businesses to assess traditional processes and improve their business model.
Key resources can be categorized into four main types: physical (tangible assets like buildings and machinery), intellectual (intangible assets like patents and trademarks), human (skills and expertise of employees), and financial (capital resources).