A business model (BM) is a conceptual framework that describes how an organization creates, delivers, and captures value from its products or services. A business model typically consists of several elements, such as value proposition, customer segments, revenue streams, cost structure, key resources, key activities, key partnerships, and channels. A business model can be used to describe the logic and rationale behind an organization’s strategy, operations, and performance. A business model can also be used to evaluate the feasibility, viability, and desirability of a new product or service idea. A business model can be influenced by various factors, such as market conditions, customer needs, technological trends, and competitive forces.
