The document proposes a new 'O' model for component-based software development (CBSD), emphasizing the importance of reusability in software engineering. The model streamlines the development process through four main phases: component selection/modification, integration, testing, and customer evaluation, aiming to meet the challenges posed by increasingly complex software systems. It also discusses various existing CBSD models and highlights the potential future shifts in software engineering roles and skills due to the adoption of component-based technologies.