Dr. Supran Kumar Sharma, Dean, Faculty of Management, SMVDU, conducted a training session on the topic, ‘Lean Canvas: A Tool for Innovation Management & Uncertain World’ in a week long faculty development program being conducted by Department of Humanities & Management, Dr. B. R. Ambedkar National Institute of Technology, Jalandhar, sponsored by AICTE Training & Learning (ATAL) Academy.
The Session initiated with the comprehensive portrayal of the model a tool of entrepreneurship management identified as Lean Canvas and it captures the business model of an Entrepreneurial venture in one page diagram. Dr. Sharma emphasized that the canvas is perfect one page format for brainstorming possible business models by prioritizing where to start and track ongoing learning. The session focused on explaining how to create your lean canvas by sketching canvases for each customer segment and split broader customer segments into smaller ones.
Dr. Sharma elucidated that a lot of starters choose to defer the pricing question as they think their product is not ready, but to understand the revenue stream and cost structure it is essential to answer the pricing question transparently. The participants interacted well and praised the session.