Sei sulla pagina 1di 18

Gujarat Technological University

(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2

CIRCULAR: For students of the 7th Semester of the academic year 2014-15
WORK COMPLETED BY MOST OF THE STUDENTS TILL NOW:
The students have submitted (i) the details of their team and (ii) the title and abstract of
their project to GTU at http://projects.gtuinnovationcouncil.ac.in/login.aspx after getting it
duly approved by the Faculty -Guide and the HOD. (Reference 1:
http://www.gtu.ac.in/circulars/14Aug/22082014_01.pdf)

DESIGN OF THE PROJECT IN DETAILS:


(i) Phase 1: (Reference 2: Page 10 of http://www.gtu.ac.in/circulars/14Jul/07072014_01.pdf):
During this phase, the team of students have to visualize themselves as the user of their
work, when it is completed. For doing it systematically, the observation matrix was given on
page 11 of the Reference 2.
To respond to some of the common questions about the Observation Matrix, Exercise 1
has been created. All the students are required to go through it. It will take no more than
4 hours and it will facilitate completion of Phase 1 (Appendix 1 on page of this
document.) in a systematic manner.
The work under this phase may have been already completed by most of the students. Each
college/ department can flexibly fix the time and schedule of such exercises under allocated
time slot for final year projects. Normally these exercises may be finished in Degree Eng.
Colleges by 13th September 2014.
(ii) Phase 2: Exercise-2 (A): Exercise of PAS and PSAR. It has to be finished by 30 th September
2014. (Page 4)
Exercise-2 (B): Hands on Exercise on Ideation Canvas after defining the final year
IDP/UDP/Project: It has to be finished by 30th September 2014. (Page 5)
Exercise-3: Hands on exercise on Product Development canvas: It has to be finished by 31st
October 2014.
(Page 10)
Exercise-4: Hands on exercise on BMC (Business model Canvas) Exercise: This has to be
finished by 15th November 2014 for those students who are presently in 7th Semester and who will
make one semester project (projects which will end this semester only). Those students, who will
carry forward their projects from 7th Semester to 8th Semester as per the suggestions of their guide,
will have to do this exercise by 1st February 2015.
(Page 13)

All the above exercises will be evaluated under continuous evaluation process in the college
and marks will be given based on the performance of the teams. University have carefully
conceived, benchmarked, tested such interventions and now implementing them to let
every student in BE final year understand the entire innovation value chain of Mind to
Market.
(The remaining pages are the Appendices for understanding the Circular, wherever required.)
1

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2

Appendix-1: Exercise-1
During the phase- I ,as per the previous circular , students are required to have a co-creation
workshop where each team is required to go through this Project/IDP/UDP definition
making canvas exercise (Observation Canvas Exercise) . The work of phase 1 is required to
be documented and submitted along with the project report during project examination of
the 7th semester.
Process for Phase 1: (Observation Canvas Exercise)
Objective- The objective is to adopt systematic approach based on design thinking and
articulate the insights derived from empathization process including observation,
interaction etc during ISY (Industrial Shodh Yatra) and finalise the problem/IDP/UDP
definition and orient the task as their final year project in their 7th and 8th Semester.
How to get the matrix?
Students can download the PDF or JPEG version of the canvas/matrix from the link as given
https://drive.google.com/folderview?id=0B1Zb2_c7CgvLTXZMSkdYM0RXME0&usp=sharing
The size of the printed canvas in hard copy for hands-on work should be preferably A1.
What should be the duration of this exercise?
If college calendar is pre fixed it can be adjusted based on local possibility at
department/college level. These 4 hours can be accommodated within the time allocated
every week for final year project purpose.
What will be the process for doing this workshop?
1) Each team will fill their own canvas with sticky notes based on their observations and
Industrial Shodh Yatra (ISY) insights. This process may take 2.5 to 3 hours.
2) Each team has to present their poster in front of the whole class of 60 students and
preferable in the presence of Project Guides. Other teams are supposed to comment on the
effort of team with critical feedbacks and inputs. Each team is supposed to compile such
feedbacks and comments and incorporate them in the report to be submitted to the
departments after examination. If required, in response to the comments, the team may
redesign the canvas.
3) Teams need to document the detailed insights in soft copy. This exercise report with
the data filled in the canvas need to be attached in the project report to be submitted
during examination. University will also share a web link later on when each team will fill
their data for each box item in the canvas online at University portal. Teams have to fill
their own inputs while making the canvas in the report of their project and also mention
the inputs shared by all their classmates during presentation in front of whole class.

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2


Will this exercise be considered as a part of evaluation for final year project?
Yes, like other components in final year project, such hands on exercises on various
canvases will be considered as a part of continuous evaluation process of the respective
department under final year Project. The external examiners
during
final
project
examination will see whether every team has thoroughly done such hands on exercises or
not.

If a colleges/ department wishes to modify such canvases it is welcome to do so. In such


cases the branch/college is required to inform GTU by mailing the new template /canvas
being used by them so that the best practices can be shared with all colleges for the largest
impact. In such cases they can communicate to the university by mailing at gic@gtu.edu.in .

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2

Appendix-2
Exercise-2 (A) For increasing the innovation quotient of each of your IDP/UDP
PAS: Prior Art Search activity, which includes:
Web search/research publication
User feedback
Patent search1

(PSAR)

Vendor/market search
1

During this Patent Search and Analysis Report (PSAR) generation activity, every student
within a team has to study at least 5 patents related either to his/her IDP/UDP or related to
his/her area of interest. Analyzed data of each of these five patents is to be submitted online
once the university declares the web link along with the project progress details. The team
needs to compile the findings of each member during PSAR and make a report, which
includes information about the following:

What are other solutions already existing and what are specific patent claiming to
solve the particular need or adding value related to your project?
How the team wishes to improve existing patent claims by their own project?
What would be new value addition/distinct feature the team will add to ensure that
their solution becomes unique and novel?
Understand which innovator /industry has already started working on your proposed
improvements and this will let the team understand the orientation of future
research in academia. The academic R&D can be streamlined by tapping such data
where industry aspires to build product/process, which is going to come to market in
future.

The last years circular for PSAR is available on the web. Please await the new detailed
circular on PSAR.

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2


Exercise-2 (B): Exercise on Ideation Canvas after defining the final year IDP/UDP/Project
Objective: To adopt a systematic design thinking approach to ideate and approach towards
solving the defined challenge, finalized in canvas Exercise 1. This effort will bring in various
heuristics for solving a challenge using multiple ways. The team needs to pick up the best
optimised path from the whole ideation output and proceed for product/solution design.
Time line: The teams are supposed to do it in their respective branches/colleges before 30th
September 2014. The colleges/branches will arrange these exercises in the time slot given
under project. Each college and branch can flexibly arrange such efforts based on local
scenario. The process will take on an average 3-4 hours per class of 60 students
Process to conduct such hands on workshop:
The process of conducting such workshop will be nearly same as above canvas exercise in
problem definition finalising exercise on page 3.
Ideation canvas workshop
An ideation canvas is a rough whiteboard/sheet where ideas can be stretched into any limits or
dimensions. Ideation session is not aimed at finding solutions to the defined problem. But its aim is
to define the best possible problem and stretch out its possible scope. The field is set and the overall
agenda is to build the clones of the ideas and pivot them throughout the canvas so as to discover
new possibilities.
Requirements:
1. The ideation canvas in A1 sheet and Sticky notes.
2. Required hall space for the ideating atmosphere/classroom etc.
Steps:
1. The Ideation canvas session should be average of 3-4 hours for proper brainstorming and flow of
ideas. The project coordinator in presence of project guides shall mentor the students so as to
extract the best and craziest ideas out of the students.
2. Ideal flow in the ideation canvas would be from People, Activity, location and Props & Solutions
but it is always recommended to jump through the blocks for proper ideation.
3. Nothing should be written directly on the ideation canvas; whatever has to be written should be
on the sticky notes. Later on the content written in every sticky note will be made in soft copy
and a note will be prepared based on the content of the hard canvas sheet. This soft copy needs
to be printed and attached in the final project report along with snap shot of the canvas with
title as the hands on workshop on ideation canvas for project title of the IDP/UDP.
4. Doesnt matter how crazy the idea, pin them down into the canvas. Even the craziest ideas make
sense more often than not. Write every idea on the sticky note and stick them in the relevant
canvas block.
5. The teams can keep the physical canvas with them and show it to external examiners during
project examination. Later they can submit them to their respective departments. The soft copy
5

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2


of the document will be filled in a given web link provided by university which will be published
later on during the semester.

N.B. The exercise for both the canvases, given below, along with presentation will take an average
of 3-4 hours. This will be taken out of the time, scheduled for the project every week. In the
following exercise, the focus would be on finding different ideas for solving the pre defined
challenge.

Ideation canvas 1 for IDP/UDP exercise for BE final year students

Continued ..

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2


Ideation Canvas 2 for IDP/UDP exercise for BE final year students

Continued ..

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2


Sample example look of Ideation canvas 1 for IDP/UDP exercise for BE final year students

N.B. The example canvas as above has been taken from the hands on training workshop for faculty
members (GTU Innovation Club Coordinators) of all GTU degree engineering colleges. The workshop
was held on 2nd and 3rd August 2014 at GTU. During the exercise GTU Innovation Club Coordinators
of different colleges worked in teams and offered a challenge to each team and to follow the process
and to deliver desired results.
After going through the exercise, all GTU Innovation Club Coordinators appreciated this and wished
that such exercise must be done by all final year students as a part of their final year project. In
response to the inputs from all the 118 faculty members from degree eng colleges affiliated to GTU,
the Council of Deans suggested such workshops to be included at the right stage for all final year
students for IDP/UDP.

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2


FAQ and basic explanation of the terminologies used in above canvases:
Ideation Canvas 1 for IDP/UDP exercise for BE final year students
People:
Jot down distinct people you can think of or you are interested to solve problems for. You can
segment them into various groups on the basis of their profession e.g. Teachers, doctors, athletes.
Similarly segment them on the basis of their age, income and other characteristics.
Activity:
Write down whatever every segment of people do. Make the list, as long as possible- for example
teachers: teach, take attendance, prepare class notes, prepare presentations, grade students,
evaluate answer sheets and prepare question papers. Similarly; Shoppers, window shop, compare
prices, visit stores, return defective goods, claim warranty etc.
Situation/context/ location
Every above mentioned activity can be done in a different situation, location or context. For
shopping- prices can be compared online or offline. The location for shopping can be a mall with
many available brands or a street shop. Sometimes you could be buying clothes for yourself and at
times for gifting which depicts different contexts. For a teacher evaluation can be of either
subjective or objective papers. At other times it could be of project reports. Evaluation can be either
paper/document based or for continuous class behavior which depicts different contexts.
Possible solutions/ props
Note down the objects, technologies or solutions which may be possible outcomes to your
idea/challenge. The prop need not be related as its always randomness that helps in finding new
ideas. Consider an example where you are thinking about teachers and throw in a random solution
like chemical reagent. Here as mentioned above the randomness in ideas can be implemented.
Adding up People: Teacher > Activity: Evaluation > Situation: Subjective answer sheets; to the
chemical reagent gives you a special pen based on acidity that makes the teacher comments tamperproof.

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2

Appendix-3: Exercise-3 Hands on exercise on Product Development canvas


Objective: This exercise is meant for giving strategic orientation to the project of each team
so that it achieves its true goal as defined by the previous canvas exercises. This exercise is
more about developing strategy for the proposed product/solution design, after the team
has successfully attempted the ideation process and has incorporated inputs from all
stakeholders.
Time line: This exercise has to be done by colleges/branches by 31st October 2014
Duration of the exercise: This exercise will take average 3-4 hours including the presentation
of the teams project canvas by each team. If required colleges/branches can certainly take
extra time if it is required.
Process to conduct such hands on workshop:
The process of conducting such workshops will be nearly same as above canvas exercise in
problem definition on page 3.
A product development canvas is the ground where in the best possible ideas after the ideation
session are pitched and nurtured to develop.
Requirements:
Same as that for the ideation session.
Steps:
1. The role of the mentor or the Faculty coordinator remains the same here as that of the Ideation
Session.
2. Adding content into the Product development canvas is also to be done by using the sticky notes
as previously done in the ideation canvas. Later on each content written in the sticky note will be
made in soft copy and a note will be prepared based on the content of the hard canvas sheet.
This report soft copy need to be printed and attached in the final project report along with snap
shot of the canvas with title as the hands on workshop on product development canvas for
project title of the IDP/UDP.
3. Ideal flow in the Product Development Canvas would be from People, Purpose, Product
Experience, Product Functions, Product Features, Components, Reject Redesign Retain and
Customer Revalidation.
4. The blocks should be filled in such a manner that, various Components enable a Product Feature,
various Product Features fulfil a Product Function and various Product Functions result into the
Product Experience.
5. Nothing should be written directly on the Product Development canvas; whatever has to be
written should be on the sticky notes.
10

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2


6. The teams can keep the physical canvas with them and show it to external examiners during
project examination. Later they can submit them to their respective departments. The soft copy
of the document will be filled in a given web link provided by GTU.

FAQ and basic explanation of the terminologies used in the Product Development canvas

People
Make the segment more focused. Note down the kind of people you have in mind while
developing the product and also the people for whom you are resolving the problem.
Purpose
The section should answer the following questions: What is the broad purpose of your
product? What problem sector you want to target broadly or specifically? For e.g. you may
want to target transport sector or you may want to come up with options for Healthier
foods. If you already have a specific purpose, then go ahead with it. Like solving the problem
of measuring footfalls in a retail store or measuring consumer interest in specific products
on retail shelves.
Product Experience
Focus in depth on how the customer feels for your product/service concept. Mention every
kind of experience you would want your user to feel, enjoy or avail. Also make a list of all
user problems you want to address and how user feels about each of his problems.
Product Functions
Product functions deliver the product experience. Convert the product experience into
functions for your product/service. What functions your product should perform to meet
the customer experience you have just identified in product experience? Mostly the user
experience/needs will be your product functions. e.g. if you want your users to feel
comfortable & maintain right body posture while sitting on a chair, function provided must
be comfortable sitting and healthy posture. If you are developing software, user
requirement for faster experience would mean that faster working will be a function of your
product. Same for a home delivery service.
Product features/ key components
Features power the product functions. Find product features that will deliver the product
functions you have identified. For a comfortable chair, ergonomic design would be one
feature; footrest or armrest could be more. And how about a mobile or a cup holder?
Multiple product features could lead to the same function. Features could also be
components. Like arm-rest, neck rest or footrest. A faster algorithm could be a feature
powering the speed performance of software.
11

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2


Product development canvas IDP/UDP exercise for BE final year students.

Product Experience
Focus on what the customer feels about a product and find out his problems. Jot down his
key experience points, his wish list and the improvements sought.
Customer Revalidation
Check to see if the functions and features you have built solve his/her problem. Find if you
have left some customer experiences which you are yet to address. Be ready to discover
new user needs & jump back to product function stage.
Reject/Retain/Redesign
Retain what users like, reject what they dont want & redesign what can be improved to
meet the user challenges. Run the Reject/redesign/retain on the functions first and then if
required on individual features to find how well they are powering the functions of your
product/service.
12

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2

Appendix-4: Exercise-4 Hands on exercise on BMC (Business model Canvas) Exercise


Objective:
Business model canvas is used to validate the market significance of products and services which will
be of technology nature in this case. Technology projects are often solutions or processes that solve
a technical problem. However the market implementation of such solutions also require that the
problem solution is designed to overcome not just the technical barriers but also market and
business related barriers of costs, customer reach and collaborations and those that pertain to the
practical nature of limited initial capacities within the team.
Thus business model canvas can be used to visualise such market problems and customer
expectations. This exercise will increase the market potential and penetration of technology goods
and services. This will make them more effective in market.

This exercise will bring discussions on viability and cost effectiveness into picture along with
their clear impact. This exercise will enable students to have a clear understanding on the
steps required to ensure that whatever solution they develop as their project should have a
user who can afford it with desired needs. This exercise also helps students to understand
the true value of the proposed solution.
Duration of the exercise: This exercise will take average 3-4 hours including the presentation
by each team where all other team will comment and suggest on the presenting teams
project canvas. If required colleges/branches can certainly take extra time, if required.
Process to conduct such hands on workshop:
The process of conducting such workshop will be nearly the same as the ideation canvas
exercise on page 3.
You may refer about this more at: http://en.wikipedia.org/wiki/Business_Model_Canvas
https://www.youtube.com/watch?v=QoAOzMTLP5s

13

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2


BMC canvas for IDP/UDP exercise for BE final year students

Refhttp://en.wikipedia.org/wiki/Business_Model_Canvas#mediaviewer/File:Business_Model_C
anvas.png

14

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2


Description about Various Terminologies and FAQ on BMC
Steps to fill in the Business Model Canvas.
1. Customer Segments:
Customer Segment block is to present the list of Personas, organized by Customer Segment.
If you have more than one segment. It is always recommended to prioritize them.
Who would you pitch first if you could only pitch one? Who next? And so forth
For whom are we creating value?
Who are our most important customers?
Examples:
o Mass Market
o Niche Market
o Segmented
o Diversified
o Multi-sided Platform
2. Value Propositions:
The Value Propositions business block aims at providing answers to the following questions:
What value do we deliver to the customer?
Which one of our customers problems are we helping to solve?
What bundles of products and services are we offering to each Customer Segment?
Which customer needs are we satisfying?
Examples:
o characteristics
o Newness
o Performance
o Customization
o Getting the Job Done
o Design
o Brand/Status
o Price
o Cost Reduction
o Risk Reduction
o Accessibility
o Convenience/Usability
3. Channels:
This business block comprises of a list of important Channels, linked to Personas or
Segments if they differ substantially. Make notes on what steps are relevant for each-

15

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2


promotion, sales, service, etc. This business block provides answers to the following
questions:
Through which Channels do our Customer Segments want to be reached?
How are we reaching them now?
How are our Channels integrated?
Which ones work best?
Which ones are most cost-efficient?
How are we integrating them with customer routines?
4. Customer Relationship:
The customer relationship business block answers the following questions:
What type of relationship does each of our Customer Segments expect us to establish
and maintain with them?
Which ones have we established?
How are they integrated with the rest of our business model?
How costly are they?
Examples:
o Personal assistance
o Dedicated Personal Assistance
o Self-Service
o Automated Services
o Communities
o Co-creation
5. Revenue Streams:
Revenue Streams block of Business Model Canvas aims at answering the following
questions:
For what value are our customers really willing to pay?
For what do they currently pay?
How are they currently paying?
How would they prefer to pay?
How much does each Revenue Stream contribute to overall revenues?
Types of Revenue Streams:
o Asset sale
o Usage fee
o Subscription Fees
o Lending/Renting/Leasing
o Licensing
o Brokerage fees
o Advertising
16

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2


o
o
o
o
o
o
o
o
o

fixed pricing
List Price
Product feature dependent
Customer segment dependent
Volume dependent
dynamic pricing
Negotiation (bargaining)
Yield Management
Real-time-Market

6. Key Activities:
The Key Activities block aims at answering the following set of questions in your business
model:
What Key Activities do our Value Propositions require?
Our Distribution Channels?
Customer Relationships?
Revenue streams?
Categories
o Production
o Problem Solving
o Platform/Network
7. Key Resources:
This segment of the business model canvas answers the following questions.
What Key Resources do our Value Propositions require?
Our Distribution Channels? Customer Relationships?
Revenue Streams?
Types of resources
o Physical
o Intellectual (brand patents, copyrights, data)
o Human
o Financial
8. Key Partnerships:
It is always recommended to map Key Partners to Key Activities. If an activity is key, its still
part of your business model. This is a way to denote which specific Partners are handling
various Key Activities for you. This business block is intended to answer the following
questions:
Who are our Key Partners?
17

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |

Gujarat Technological University


(http://www.gtu.ac.in/)

GUIDELINES FOR THE FINAL YEAR B.E. PROJECTS 2014 Part 2

Who are our key suppliers?


Which Key Resources are we acquiring from partners?
Which Key Activities do partners perform?

Motivations for partnerships


o Optimization and economy
o Reduction of risk and uncertainty
o Acquisition of particular resources and activities
9. Cost Structure:
Cost Structure business block provides a list of Cost Structure elements with notes on their
relationship to Key Activities.
This block in the business model answers the following questions:
What are the most important costs inherent in our business model?
Which Key Resources are most expensive?
Which Key Activities are most expensive?
Is your business more
Cost Driven (leanest cost structure, low price value proposition, maximum
automation, extensive outsourcing)
Value Driven (focused on value creation, premium value proposition)
Sample characteristics
o Fixed Costs (salaries, rents, utilities)
o Variable costs
o Economies of scale
o Economies of scope
References:
http://www.alexandercowan.com/business-model-canvas-templates
http://www.businessmodelgeneration.com/downloads/business_model_canvas_poster.pdf
For references of some real life case studies, please see the following:
Blog link to IDEATION and PD (Product Design) hands on workshops instructions.
http://www.openfuel.org/blog/instructions-for-ideation-and-product-developmentsessions-for-gtu-engineering-colleges/
Blog link to Steps to fill in the business model canvas.
http://www.openfuel.org/blog/steps-to-fill-in-the-business-model-canvas/

18

| Gujarat Technological University (http://www.gtu.ac.in/) |


|Contact: gtu_innovation_council@gtu.edu.in,gic@gtu.edu.in| Tel: +91-79-2630 0699 |