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what is a business model? - Clement Owusu - 04-08-2014 07:26 PM
- AJ.Inc - 04-08-2014 07:30 PM
A business model is the way that a company sells products to its customers, according to Online Business Watch.
- abhi - 04-08-2014 07:35 PM
I will try to explain with an simple example. I have a small store which sells paper, pen, pencil & eraser.
In this case my business model will be
Purchase : It will be responsible to get Paper, Pen, Pencil & Eraser (PPPE) at the best prices, keeping in mind Quality.
Back Office : It will be responsible to check Stock Levels, Accounting & other administrative tasks like Salaries, utility payments etc.
Sales : It will be responsible to give best possible solutions to walk in customers and inform them of current schemes, qualities available
So in this case, my business model consists of Purchase, Back Office & Sales
As the business grows in complexity, size, geographically, there are various factors to be accounted like tax compliance, compliance with laws of the land, purchase department becomes more sophisticated. The business model starts defining each process, task, resource (people, systems, devices etc)
- robert m - 04-08-2014 07:39 PM
An outline structure for a successful business in its chosen market. Abbi provides an example, Franchise provides business templates which are its business model.
- Jennifer - 04-08-2014 07:47 PM
A business model describes the rationale of how an organization creates, delivers, and captures value (economic, social, cultural, or other forms of value). The process of business model construction is part of business strategy.