"BUSINESS MODEL CANVAS1Business Model Canvas Critical ReflectionAuthorProfessor UniversityCity, StateDateBUSINESS MODEL CANVAS 2IntroductionBusiness model canvas, (BMC) provides insightinto the procedures and methods that areused by enterprises to create value for clients (Stenn, 2017, p.35).By providing an in –depthanalysis of business processes, BMC helps organisations and start-up companies order and findwork in a systematic manner. Business model canvas, (BMC) has nine building blocks whichinclude: value proposition, customer segments, key partnerships, coststructure, channels,customer relationships, key resources, key activities and revenue streams (Saxena, Deodha, &Ruohonen, 2017, p.48).This paper gives a critical analysis on the business model canvas and howit aids new or existing businesses to conduct real, structured and strategic conversations.Figure 1: Alex Osterwalder Business Model Canvas,(www.slideshare.net). BUSINESS MODEL CANVAS 3Value Proposition- refers to the entire service line or products the company offerscustomers. It solves clients need and adapts to customer’s expectations (Frick & Ali, 2013, p.42).They include design, convenience and usability, price, brand or status, customization ability,price, performance and newness of product or service (Frick & Ali, 2013, p.36). Thousand steplemonade kiosks uses cold tasty natural lemonades for a value proposition.Customer Segments- refers to the different groups of clients formed due to variousdistribution channels, different types of relationship, various types of profitability and differentability to pay for the product or service (Pereiraet al., 2016, p.26). The thousand step lemonadekiosk targets the exercising park visitors.Channels- channels identify how organisations deliver the value proposition to targetclients- who are reached through distribution, communication and sales channels. Thousand steplemonade kiosk uses Facebook and kiosks to reach their customers.Customer Relationships- in BMC, Customer Relationship identifies what form ofrelationship exists between the company and particular target client. Thousand step lemonadekiosk encourages staff to have one-on-one interaction with customers.Revenue streams- Thousand step targets sales from lemonades and tips as sources ofincome. Income received represents revenue from each target customer segments.Key activities- describes company’s most important actions done to create and offer avalue proposition to target customers as well as reach the segmented market. Thousand stepkiosk makes great lemonade and markets highly to sell lemonades. BUSINESS MODEL CANVAS 4Key Resources- identifies the necessary assets required to make business model work(Pereira et al., 2016, p.58). Thousand steps invest in quality lemons, equipment and kiosks toboost sell.Key partners- describe the binding partners and suppliers needed to make a businessmodel work. Types of the partnership include joint ventures, coopetition strategic alliances, andbuyer-supplier (Fritscher& Pigneur, 2016, p.60). Thousand step lemon kiosk key partnersinclude Yarra Ranges, national parks and lemonade tree farmers.Cost structure- refers to all expenses incurred when operating a business. Creating anddelivering value, maintaining customer relationships all bear acost. A company’s cost structurecan be either cost-driven or value-driven. "