A ________ is a firm's plan or diagram for how it competes, uses its resources, structures its relationships, interfaces with customers, and creates value to sustain itself on the basis of the profits it earns.
A) feasibility model
B) business model
C) strategic plan
D) business plan
E) competitive model

Question

Quizplus · Accepted Answer

A business model is a comprehensive plan or roadmap that outlines a company's entire business strategy. It typically includes details about the company's target market, offerings, revenue streams, cost structure, and competitive advantages. Business models focus on creating value and generating profits, and they are an essential component of any successful business. Feasibility models and strategic plans are related concepts, but they are not the same as a business model. A business plan is a specific document that outlines how a company will achieve its goals and objectives, while a competitive model focuses on analyzing a company's position relative to its competitors.

A ________ Is a Firm's Plan or Diagram for How