Asked by Carena Carrington on Feb 18, 2024
Verified
Define the business model and identify its four core areas.
Business Model
Describes the rationale of how a new venture creates, delivers, and captures value.
- Identifying the key components or elements that make up a business model.
- Recognizing the four core areas or dimensions that are typically included in a business model.
- Understanding the concept of a business model and its importance in the context of a company's operations and strategy.
Verified Answer
KP
Kylie Pasion
Feb 18, 2024
Final Answer :
The business model is the framework for creating and delivering consumer value,while extracting value for the entrepreneur as well.Broken into four parts,each business model includes an offering,customers,infrastructure,and financial viability.
Learning Objectives
- Identifying the key components or elements that make up a business model.
- Recognizing the four core areas or dimensions that are typically included in a business model.
- Understanding the concept of a business model and its importance in the context of a company's operations and strategy.