The Business Model Canvas is a strategic management tool used to define and communicate business ideas through a one-page document that organizes the fundamental elements of a business or product in a coherent way. The canvas includes nine blocks that cover key partners, activities, resources, value propositions, customer relationships, channels, customer segments, revenue streams, and cost structures. The document provides an example of how Uber uses the Business Model Canvas to map out these elements for their ride-hailing business model.