Cook Medical Business Model Canvas

The business model canvas I created was for Cook Medical, the company for which I currently work.  The value proposition that Cook provides is a large variety of simple, reliably designed products from a trusted brand that get the job done.  One of the key resources of the business is the large, skilled sales force.  They maintain customer relationships through face-to-face personal assistance which results in revenue from product sales and key partnerships for intellectual property / new product development.  The key activities of Cook’s business are R&D and supply chain / operations management.  If Cook doesn’t make the products that its customers want, then there is no business.  If Cook doesn’t have success moving materials from vendor to production to distributors to hospitals, then there is no business.  The obvious key customer segments are hospitals and private practices and they generate revenue through product sales because of the value propositions.  The not-so-obvious customers are other medical device companies.  They generate revenue for Cook through product sales (for example, including a Cook component in one of their sets) and through licensing fees (for example, Cook might receive a 6% royalty on each product a competitor sells due to patents).  The value proposition that creates this revenue is the product design.  The concept of licensing fees is present in Cook’s cost structure as when we produce products where other companies or universities own the patent involved.   The sales force, physicians, operations and R&D are highly connected in all aspects of Cook Medical’s business model canvas.