BU121 Lecture Notes - Lecture 1: This (Canadian Magazine), Consumer Reports, Making Money
Document Summary
What a business model is and the different building blocks that make up a business model. Why it is important to understand your business model. Why companies in the same industry or with essentially the same product/service might have different business models. How a company"s business model affects how it operates. Some of the common patterns found in business models. The process of building a business model and be able to apply it, including the process of determining if you have product-solution fit". A business model describes the rationale of how an organization creates, delivers, and captures value alexander osterwalder. The business model tells you how a business intends to make money and the logic by which is plans to sustain itself financially. It is how your idea actually becomes a business. Acting like a business means that the business has cash flow, can sustain itself financially, and can continue.
