This document discusses business model design and introduces the Business Model Canvas as a tool. It explains that the Canvas breaks a business model down into 9 building blocks: key partners, key activities, key resources, value propositions, customer relationships, channels, customer segments, cost structure, and revenue streams. An example of the iPod/iTunes business model is provided. The document concludes by assigning students the task of designing their own business model relating to a project using the Business Model Canvas.