What is a business model?

A business model refers to the framework or strategy that defines how a company creates, delivers, and captures value. It encompasses various elements such as the target market, products or services offered, revenue streams, cost structure, and competitive advantage. A well-defined business model articulates how the organization will generate profits and sustain its operations. It outlines the overall approach the company will take to make money and remain viable in the market. A business model provides a clear direction and acts as a blueprint for decision-making, serving as a guiding principle for the company's activities and growth.

This mind map was published on 10 November 2023 and has been viewed 44 times.