Workshop on Business Model by AI&DS Department under IIC

A workshop titled Workshop on Business Model was conducted under the IIC to provide participants with practical insights into how organizations create deliver and capture value using effective business models The session was led by Prof Prajwal B K Assistant Professor at the Department of MBA Srinivas Institute of Technology Mangaluru and event organizers are – Aman Rao M Bimal P B B Vibha and K C Ayush The objective of the workshop was to introduce the Business Model framework and help students understand the foundational components required to build or analyze business models The Event is organized by Department of Artificial Intelligence and Data Science and the event took place on 23rd May 2025 at AI and DS Project Lab The workshop aimed to equip students aspiring entrepreneurs and business enthusiasts with the skills to both develop new business models and critically analyze existing ones The resource person provided a comprehensive overview of the Business Model a strategic tool widely used in business planning and innovation processes Through this session attendees gained an in depth understanding of the nine fundamental components that constitute a business model Prof Prajwal B K elaborated on each of the nine building blocks of the Business Model These included Customer Segments which define the specific target audience Value Proposition referring to the unique value offered to customers Channels outlining the various methods of delivering value and Customer Relationships which address the type and nature of relationships maintained with customer segments The discussion also covered Revenue Streams focusing on the ways in which businesses generate income Key Resources highlighting essential assets for the business Key Activities which are core functions and operations Key Partners referring to external stakeholders who support the business and the Cost Structure which details the major cost components involved in sustaining the business model To facilitate a practical understanding of these components the resource person presented a series of illustrative examples These included a lemonade stand targeting joggers in public parks the VOIP service model of Skype the digital photo sharing platform Flickr and the consumer goods strategy of Gillette Each example demonstrated how real world businesses implement the Business Model to align their operations and strategies effectively In addition to the presentation an interactive discussion session was held encouraging participants to engage with the concepts and reflect on their applicability The session highlighted about a successful business model is one that evolves based on real feedback and market conditions He further explained that a well developed business model serves as a strong foundation for building a comprehensive business plan The workshop was highly beneficial for the participants providing them with both theoretical knowledge and practical tools to approach business innovation The session was especially valuable for management students and individuals interested in entrepreneurship as it bridged academic concepts with real world business applications In conclusion the Workshop on Business Model was an insightful and well organized event It achieved its intended objectives by fostering a deeper understanding of the components that drive successful business models The contributions of Prof Prajwal B K were really helpful and his structured approach greatly enhanced the learning experience The organizers also deserve appreciation for their efforts in coordinating a session that was both educational and engaging The program was supported by Principal Dr Shrinivasa Mayya D and was successfully initiated and completed with efforts of Prof Nagaraja Hebbar N Head of the Dept AI and DS Dr Praveen Shenoy IIC Coordinator Prof Ganapathi Sharma Event Coordinator of IIC AI and DS