The Institution Innovation Council of PiMSR conducted a session on Business Model Canvas on Wednesday, 21st August 2024 with an online talk by Mr. Hitesh Adwani, Founding Director of TOSS. The objective of the webinar was to help students to think of their business through the tool of the Business Model Canvas. Mr. Hitesh Adwani, a Founding Director of TOSS, The Open Space Society, brings his professional experience in administration and a personal interest in Photography and has launched a private Arts and Cultural educational institute in Jaipur. Hitesh has an MBA from SP Jain Institute, Mumbai in Family Business Management, BBA from the University of Pune and DipAD, INIFD in Apparel Manufacturing a combination of skills required to launch a new cultural Hub for the City of Crafts, Jaipur. Channeling his experience at building a business from the ground up, repurposing a garment building in the city to create a state of the art Film, Media and related Arts centre. Hitesh teaches photography, mentors novices and develops curriculum all as part of his well-rounded contribution to TOSS.
Mr. Adwani began the session by sharing his journey into entrepreneurship and the establishment of TOSS in Jaipur. Citing examples of a fish farm and the clothing business Mr. Adwani expertly guided the students on creating a Business Model Canvas. The Business Model Canvas is a strategic management template used for developing new business models and documenting existing ones. It offers a visual chart with elements describing a firm’s or product’s value proposition, infrastructure, customers, and finances, assisting businesses to align their activities by illustrating potential trade-offs. The nine “building blocks” of the business model design template that came to be called the Business Model Canvas were initially proposed in 2005 by Alexander Osterwalder. About 83 students, three faculty and 4 guests online attended the very enriching webinar. The benefit of the session was that students understood the concept of Business Model Canvas in their journey of entrepreneurship.
