The phrase ‘key activities’ refers to every task that a business must perform to make profits. Generally, these actions include production, promotion, finding solutions to complex problems, and administration. These are among the most significant activities for a business to give people the value it promises to them. Here, we will discuss what key activities business model canvas should encompass, and in what way to single out these actions.
Why You Must Identify The Activities
Key business activities vary by the form of entity, the market it serves, plus the value proposition and customer segments of it. For web developers, these tasks are coding and UI designing. Considering what tasks must be performed on your own is just as significant as recognizing the ones that are essential for your business valuation. Modifying the activities could just be the stepping stone to innovation, particularly when there are depreciation and groundbreaking changes in the market.
Discovering The Tasks
When it comes to finding out the activities, there is no better place to look at than the ‘value proposition’ statement. It is a statement explaining why others should consider buying from you or even selling to you. To find out the activities, consider the following things.
- The biggest steps to building your business’s offering, which can be a service or product;
- The key to distributing that offering;
- The sorts of things that are key to maintaining relations with customers; and,
- The things that form the base of your business revenue streams, such as quick payment, trust, and credit limit.
List Which Tasks Are More Important For Your Business Value Proposition
The most essential actions to operate your business must be identified, to make that value proposition. For instance, a florist has to first purchase flowers, then prepare the items and distribute these. Every channel of promotion must be managed to make people visit their store.
In the case of a plastics plant, the actions may revolve around the following.
- Maintaining the action of manufacturing;
- Protecting the active processes; and,
- Determining the way to lessen expenses and make the business more productive, with an eye on keeping abreast of changes in the market.
You might have another business with a different value proposition. You must single out the tasks and concentrate on achieving the maximum efficiency in these to deliver the promised value.