[BU121] - Midterm Exam Guide - Everything you need to know! (34 pages long)
Document Summary
A business model describes the rationale of how an organization creates, delivers, and captures value. How a company intends to make money and the logic by which it sustains itself financially. Reflects the strategic decisions and trade offs that entrepreneurs make to earn a profit. How your idea actually becomes a business. A product is the centre of a business model but it is not a business in and of itself without a great business model. Different companies can have similar offerings but different business models. 3 ways to make money in water filtration: Q water: rents water filtration systems for a monthly fee to restaurants. Aquaovo: sells water filtration systems with a stylish cooler for a one-time fee to individuals. Event water solutions: rents water filtration systems for a per event fee to event holders. Business models are at heart stories which are stories that explain how enterprises work: all the elements of a good story:
