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3 Facts About Business Models

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A business model describes the rationale of how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts.

An organization or organisation is an entity comprising multiple people, such as an institution or an association, that has a collective goal and is linked to an external environment.

A business, also known as an enterprise, company or a firm is an organizational entity involved in the provision of goods and services to consumers.

Tools for Business Model Generation by Stanford

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The process of business model construction is part of business strategy.

Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes.

Ep 2 - Visualizing Your Business Model by Strategyzer

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In theory and practice, the term business model is used for a broad range of informal and formal descriptions to represent core aspects of a business, including purpose, business process, target customers, offerings, strategies, infrastructure, organizational structures, sourcing, trading practices, and operational processes and policies including culture.

A business process or business method is a collection of related, structured activities or tasks that produce a specific service or product for a particular customer or customers.

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