The Business Model Canvas (BMC) by Alex Osterwalder and Yves Pigneur has been widely used as a tool for analyzing, designing and visualizing the business model of new and existing for-profit business ventures. However, the analytic framework of BMC is incomplete when one is trying to develop the business model for a social venture that seeks to achieve specific social impacts as a primary goal, with financial viability as a secondary, albeit important, consideration.
This presentation introduces "A Purpose-Driven Approach to Business Model Design", developed by Professor Wong Poh Kam of the NUS Entrepreneurship Centre, that puts the achievement of social impact as the primary design goal, and adapts the BMC to more effectively explore how different business models can be developed to achieve those impacts. This design approach also highlights how the financial requirements of a business model can be met with different financing models, and shows how the tensions between achieving social impacts and meeting financing requirements can be resolved through the design of an appropriate stakeholder model that generates a “shared-purpose” between the social entrepreneur and other stakeholders.
It uses concrete examples of actual social ventures to illustrate how social impacts and financial viability are achieved in practice using this purpose-driven approach to business model design. Viewers are invited to apply this holistic analytical framework to examine their own social venturing ideas, and to share their new learnings.
Find out more about what we do at http://enterprise.nus.edu.sg/entrepreneurship-outreach/social-venture-lab