Blog

2020 will be forever remembered as the year of the Coronavirus. Despite the global climate change impacts which made themselves felt only slightly earlier in the year, none had the sudden and drastic impact on society, commerce, governments and travel that were imposed by this new and seemingly unstoppable virus. As governments around the world sent businesses and individuals into lockdown, life as we have come to know it has seemingly been brought to a sudden halt. In the midst of this upheaval, however, some amazing adaptations have already begun to emerge: James Dyson, of Dyson vacuum fame, has suddenly entered the ventilator manufacturing business (1) Telemedicine is rapidly entering the mainstream, with government support (2) Government schooling at all levels is rapidly transitioning to online and remote modes (3) Demand for home delivery services is skyrocketing as people are encouraged to stay at home and avoid social contact (4) Many workplaces are encouraging work-from-home as an approach to keep business running, where it is practical to do so Museums are offering up virtual tours in place of physical visits to their now shuttered facilities (5) Real Estate agents are moving to conduct virtual auctions to keep house sales happening (6) These innovations all represent significant changes to one aspect or another of the respective industry’s business model . The Business Model Canvas, shown here, is a simple, rapid and very effective tool we use to depict, critique and innovate on your current business model. The concepts shown here are the components businesses change when they want to innovate, to avoid threats, and to captialise on opportunities.