What would be the best definition of a business model?
A)a small pilot of the business as it will be practiced
B)a series of hypotheses that suggest business practices
C)a plan for expansion
D)a framework that describes how a company creates, delivers, and extracts value

Question

Quizplus · Accepted Answer

A business model is a framework that describes how a company creates, delivers, and extracts value. It outlines the key components of a company's strategy, including its target customers, value proposition, revenue sources, cost structure, and channels. It helps a company to understand and optimize its operations, plan for growth, and communicate its strategy to stakeholders. A business model is not a small pilot, a series of hypotheses, or just a plan for expansion. It is a holistic description of how a company operates and creates value.

What Would Be the Best Definition of a Business Model