What is a Business Model?
A business model is defined as "the rationale of how an organization creates, delivers and captures value."
The Business Model Canvas, explained below, is a good tool to map out business models conceptually.
The Business Model Canvas was designed by Alex Osterwalder, and is a tool to help reshape the way we look at a business and identify the key components for building a sustainable business model.
Business Model Innovation (BMi) is about developing new ways to bring existing product and services to existing markets. It doesn’t require deep technological change, although technology itself is radically reshaping business models at the core.
One of the key advantages of BMi is that most of the innovation happens beneath the surface, making it difficult to understand and replicate.
BMi produces sustainable, long-term, competitive advantages.
Vision. Model. Prototype.