This morning, I had a very fruitful conversation with a colleague in which we discussed at length what a ‘business model’ is, what it covers, and what it does not cover. We did not reach a definitive conclusion and so decided to come back to this conversation at a later time.
Well, we are not alone seeing ‘business model’ in somewhat different terms. In fact, this article from the Harward Business Review suggest that a ‘business model’ is…
…one of those things many people feel they can recognize when they see it (especially a particularly clever or terrible one) but can’t quite define. That’s less surprising than it seems because how people define the term really depends on how they’re using it.
The author also looks through HBR’s archives at various definitions and views of the concept and this summary will certainly be of help to anyone struggling to pin the term down.
Read the entire article at What Is a Business Model?