Equity, Diversity and Inclusion — Business Model Generation Canvas

As businesses evolve and adapt to changing market conditions, it becomes essential to evaluate and refine their business models. The Business Model Canvas, developed by Alexander Osterwalder and Yves Pigneur, has been a popular tool for business model innovation since its introduction in 2008. However, the traditional Business Model Canvas does not address some critical elements required for delivering equity, diversity, and Inclusion (EDI) success. That is where the EDI Canvas comes in.

The EDI Canvas, which stands for Empathy, Diversity, and Inclusion, is a new tool that I have developed to address the gaps in the traditional Business Model Canvas. The EDI Canvas incorporates Equity, diversity, and Inclusion, ensuring that businesses can create value for all stakeholders and build a sustainable EDI model for success.

Here are the blocks of the EDI Canvas and their corresponding blocks in the traditional Business Model Canvas:

Key Partners: This block is the same in both canvases. It focuses on identifying the key partners and alliances required to create and deliver the EDI strategy.

Key Activities: In the EDI Canvas, Key Activities is replaced by Objectives and Key Results (OKRs). This block emphasizes setting goals and achieving them through a process of continuous improvement. By using OKRs, businesses can remain agile and adaptable, ensuring that they are always moving towards their goals.

Key Resources: This block remains the same in both canvases. It highlights the critical resources required to create and deliver EDI Strategy.

Value Proposition: The Value Proposition block is divided into two sections in the EDI Canvas. The Purpose Statement describes the core purpose of the business, while the Vision Statement outlines the desired future state. By separating these two elements, businesses can ensure that they are clear on both their Purpose and their vision.

Customer Relationships: In the EDI Canvas, Customer Relationships is replaced by Leadership. This block emphasizes the importance of building a strong and diverse leadership team that can guide the business towards success. By prioritizing diversity and inclusivity in leadership, businesses can ensure that they are making decisions that are representative of all stakeholders.

Channels: In the EDI Canvas, Channels is replaced by Policies. This block emphasizes the importance of having policies in place that support empathy, diversity, and inclusion. By having policies that are aligned with these values, businesses can create an environment where all stakeholders feel valued and supported.

Customer Segments: In the EDI Canvas, Customer Segments is replaced by Stakeholders. This block emphasizes the importance of considering all stakeholders when creating and delivering value. By prioritizing empathy and inclusivity, businesses can ensure that they are creating value for everyone, not just their customers.

Cost Structure: This block is again identical in both the Business Model Canvas and the EDI canvas. It identifies the different costs that your business incurs, whether they are fixed or variable costs, and helps you to optimize your cost structure to maximize the value to your business and society.

Revenue Streams: In the Business Model Canvas, this block identifies the various sources of revenue that your business generates, whether they are from sales, subscriptions, or licensing fees. In the EDI canvas, however, this block is replaced by Value to Business and Society, which emphasizes the importance of creating both financial and societal value through your business model.

In conclusion, in conclusion, the EDI canvas is a modified version of the Business Model Canvass. By incorporating Objectives and Key Results, Leadership, Policies, and Value to Business and Society, the EDI canvas helps businesses to align their goals with their purpose and vision, create a culture of strong leadership, and maximize both financial and societal value. By using the EDI Canvas, businesses can create a more inclusive and equitable future for all.