The business model canvas in digital entrepreneurship strategy to improve students’ entrepreneurial mindset

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Abstract

A lack of entrepreneurship understanding causes students to think about becoming employees rather than entrepreneurs (Athia et al., 2018). This study aims to attempt to teach students why it is so crucial to start their own businesses and encourage the growth of an entrepreneurial mindset by conducting an introduction and deepening of the business model canvas (BMC). BMC is a template that is used to describe what kind of business we want to build, or what kind of business we are currently running as a whole and from various aspects (Elliyana & Sudrajat, 2020). The researchers utilized structural equation modelling (SEM) method with LISREL 8.80 to analyze the data from 200 respondents. The findings reveal that entrepreneurial interest increases with the number of client categories, value propositions, channels, customer relationships, income streams, key resources, key activities, important partnerships, and cost structures. The originality of this research lies in the significant influences of the BMC on students’ mindset, entrepreneurship methods, business elements, and strategy. The visualization model presented by BMC is able to facilitate students in business, improving creativity, simple thinking, collaborating throughout elements needed in running a business, as well as leveraging opportunities.

Keywords: Entrepreneurial Mindset, Business Model Canvas, Digital Entrepreneurship, Business Elements

Authors’ individual contribution: Conceptualization — M.R., E.S., H.P., A.K., and F.C.H.; Methodology — A.K., F.C.H., and R.P.A.; Formal Analysis — R.P.A., A.K.S., M.A.F., S.F., and I.; Writing — Original Draft — R.P.A.; Writing — Review & Editing — F.C.H.; Supervision — M.R.; Project Administration — M.R. and A.K.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: C44, M3, M31

Received: 05.08.2023
Accepted: 17.06.2024
Published online: 20.06.2024

How to cite this paper: Rizan, M., Sumastuti, E., Prabowo, H., Kresnamurti, A., Hanoum, F. C., Anugrah, R. P., Safitri, A. K., Fauzan, M. A., Febriani, S., & Istikhomah. (2024). The business model canvas in digital entrepreneurship strategy to improve students’ entrepreneurial mindset. Corporate & Business Strategy Review, 5(3), 47–61. https://doi.org/10.22495/cbsrv5i3art5