The Entrepreneurial Value Behind The Business Model Canvas by Dr. James Klingler

James KlinglerThis week, the Entrepreneurship Practicum hosted a workshop by Dr. James Klingler on “The Business Model Canvas.” Dr. James Klingler is a graduate of Bucknell University where he majored in Economics.  After graduation, Dr. Klingler enrolled in the U.S. Navy where he became officer, and later enrolled in a graduate program at Temple University where he received his Ph.D. in Organizational Behavior and Industrial Relations.  He has been working, since then, at Villanova for 36 years and has been teaching Entrepreneurship for 20 years.  Furthermore, Dr. Klingler currently holds the title as Academic Director and Assistant Professor of Management and Operations of the ICE Center.

In the past two years, Dr. Klingler has introduced “The Business Model Canvas” to the entrepreneurial curriculum. While this startup canvas is a relatively new tool that was founded at Stanford University, it has revolutionized the entrepreneurship education.The value behind “The Business Model Canvas” is that it allows entrepreneur’s to design, describe, and challenge a business model.  At the workshop, Dr. Klingler described the importance and practicality behind the components that make up the canvas.  As a tool for startups, Dr. Klingler mentioned that the canvas has modernized the way entrepreneur’s work through their ideas in order to discover whether their idea is an opportunity.

During the workshop, Dr. Klingler presented a variety of videos describing the components of “The Business Model Canvas.” With a total nine components which include customer segments, customer relationships, channels, value proposition, key activities, key resources, key partners, cost structure, and revenue streams, the videos taught us how each part could be of use in evolving an idea. While each component is crucial to developing a successful startup, Dr. Klingler mentioned that the “value proposition” was the most important. If an idea does not provide value to a potential customer it will not succeed. Overall, the workshop provided the entrepreneurs within the class with an invaluable tool for learning whether or not an idea has an opportunity.

For more information about “The Business Model Canvas,” visit http://www.businessmodelgeneration.com/canvas/bmc