Developing Business Model

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Here is a summary of what you need to know about business model :


Business Model : 

A firm's business model/diagram for how it competes, uses it resources, structures its relationship, interfaces with customers, and creates value to sustain itself on the basis of the profits it generates.

There are 4 main component in business model :

1. Core Strategy : business mission,product/market scope/basis for differentiation
2. Strategic Resource : core competencies,strategic assets
3. Partnership Network : Suppliers,Partners, Other key relationship.
4. Customer Interface : Target customers, fulfillment and support and Pricing Structure

Here is an example of business model : 

Types of partnership network :

1. Joint venture : Enitity that is created by 2//more firms that pools their resources to create a seperate, jointly owned organizations.
2. Network : A hub wheel configurations with a local firms at the hub that organize the independeces of a complex array of time.
3. Constortia : A group of organizations with similar needs that band together to create a new entitiy to address those needs.
4. Strategic Alliance : Two fims that establish a relationship but no joint ownership involved.
5. Trade Associations : Organizations that formed by firms in the same industry to collect and disseminate trade information, offer legal and technical advice.

Example of business model :

https://canvanizer.com/canvas/rezggWpi4MsDn


Three elements of customer interface :

1. Target Customer
2. Fulfillment and Support
3. Pricing Model

I think that's the summary of business model, thank you for reading in 5-10 minutes..

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