Reinventing the business model for sure-fire success

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: that it draws from and integrates the variety of academic and functional disciplines, gaining prominence in none.

We are discussing a very unique thought that business model is a melding construct between technological possibilities and realising economic value. Business strategy (for that line of business) and corporate strategy (for the entire corporation) are the two starting points for business model development. Hence, business model loosely represents everything from how a company earns revenue to its organisational structures. However, it would be prudent to define business model as the way a company wants its strategy of revenue and profit generation by creating value to its customers through processes, people and technology. This conceptual representation of business model helps the firm to articulate implementation of its strategy through process, people and technology.

Extracted with permission from Tata McGraw-Hill Publishing Company Limited