Business Model

Business Model

Introduction

The design of a business is the mechanism by which it provides value to the customer and makes a profit. The design includes the selection of business customers, product offerings; decide which tasks will be carried out internally and who will be hired, and how to produce profits. The design of a business is often also known as the business concept. A successful business model represents a better way of doing business as compared to the alternative existing business.  Creating a new business model is like writing a novel. It is a novel that attracts investors, customers and partners. 

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