CHAPTER 3: BUSINESS MODEL

• CUSTOMER BONDING STRATEGY - The relationship as well as the solution that will be established with buyers and uses.
• Entrepreneurship is the process of designing, launching, and running a new business.
• REVENUE MODEL - The compensation a firm will get for providing its value proposition to support its intended
• VALUE PROPOSITION - The relevant and unique benefit that the consumer gets from buying or owning the firms product services
• TARGET MARKET - The intended recipients of a firms products or services
• COST - The monetary consequences of the means to carry out the value proposition
• CONFIGURATIONS - Rearrangement of resources, process activities and offering that can help encahnce the profit goal of the company
• COMPLEMENTORS - People or group of people who will help, both directly and indirectly to enchance the value proposition
• Processes- the critical repitive activities that are reountinized by the company to deliver the value to the customers and to the company in a suitable way
• Resources-  The hard and soft assets deployes by the firm to carry out its value proposition for the customers
• VALUE NETWORK - The Strategic linkage of extended supply chaifor the firm to provide specific products or services to the customers
• The operating model - on the other hand, is what people in the operations department like supply chain and customer fulfilment, oversee value chain resources and processes, complementors, configuration and cost
• The offering model - is composed of what people in the marketing and sales departments typically handle target market value proposition channel customer bonding strategy and revenue model.
• 10 building blocks - subdivided into two parts the offering model and the operating model.
• business model - is a description of the means and methods a firm employs to generate sales revenue profit, and cash flow while providing a template for the business to scale up.