A business model describes how a corporation produces, delivers, and generates income.
In economic, social, cultural, or other contexts, a business model explains how it develops, delivers, and captures value. Business model innovation is another name for the process of creating and changing a business model, and it is a component of business strategy.
The term "business model" is used in both theory and practice to refer to a wide range of informal and formal descriptions that characterize the fundamental elements of an organization or business, such as its mission, its core processes, its target clients, its offerings, its strategies, its organizational structures, its sourcing methods, its trading practices, and its operational processes and policies, including its culture.
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