Business Model Design
A “business model” is a company’s core strategy to create value and to turn a profit. Business models can include direct sales, franchise, advertising, partnership, or brick-and-mortar. Hybrid models combine two or more of these.
Designing a business model is the first step when creating an organizational model and needs to answer questions such as:
How do we create value?
Who are our customers?
What are our differentiators?
What are our products and services?
How should we price them?
How do we go to market?
Once a company has defined a business model, the next step is to design an operating model.
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