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Business model is frequently used these days, it is seldom defined explicitly. ...
Business model is frequently used these days, it is seldom defined explicitly.
New types of businesses, often created using the Internet, have needed new models and it become popular.
The business model (or the concept) is either a specific model* (certain company’s model) or it is quite a loose and generic term, a synonym for the idea of earning money.
In conclusion, a business model is like a business description of business idea holding several forms, steps and elements depending on the author.
Firstly, a business model describes the mechanisms of revenue generation.
Secondly, a business model analyzes the customer perspective in the value chain or in the value net.
Thirdly, a business model is typically a high-level and quite simplistic model rather than a full business plan.