Question

Write the details on Business Model Canvas (BMC) for ride-hailing services. Named as MyRide. This ride-hailing service same like Uber, Grab. Also, kindly explain BMC in essay.

Answer 1

There are nine main building blocks in the business model canvas template:

1. Key Partners: The strategic relationships your business creates with other companies or people.
2. Key Activities: Activities or tasks that are integral to operating your company.
3. Key Resources: Assets that are required to operate and deliver your company’s value proposition.
4. Value Proposition: The fundamental need that your company is trying to fulfill for its customers. Why your company exists.
5. Customer Relationships: The type of interactions your company has with its customers and the level of support it gives.
6. Channels: Different methods that your company uses to deliver its products and value proposition to customers.
7. Customer Segments: The different groups of customers that your company interacts with.
8. Cost Structure: How a company spends money on operations. The key costs and level of cost-focus for your company.
9. Revenue Streams: Your company’s sources of cash flows.