Categories: Product Development
A business model describes the rationale of how an organization creates, delivers, and captures value. It is a visual chart with elements describing a firm’s value proposition, infrastructure, customers, and finances.
Definition of "Business Model" by Chat GPT: A business model is a framework describing how a company creates, delivers, and captures value in a particular market. It involves identifying a target audience, creating and delivering a product or service that meets their needs, and then generating revenue through various channels. A business model outlines the key components of a company's operations and provides a roadmap for achieving profitability and sustainability.
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