Ch 6 - CHAPTER 6 DEVELOPING AN EFFECTIVE BUSINESS MODEL...

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CHAPTER 6 DEVELOPING AN EFFECTIVE BUSINESS MODEL Business Model- a firm’s plan or diagram for how it competes, uses its resources, structures its relationships, interfaces with customers and creates value A firm’s business model extends beyond its own boundaries as almost all firms partner with others to make their business models work. There is no one best, or standard, business model feasibility analysis develop business model business plan Importance of the Bus. Model - Serves as an ongoing extension of feasibility analysis; - Focuses attention on how all the elements of a business fit together and constitute a working whole; - Describes why the network of participants needed to make a business idea viable would be willing to work together; - Articulates a company’s core logic to all stakeholders, including the firm’s employees. Ultimately, a business model is viable only insofar as the buyer, the seller, and the partners involved, see it as an appropriate method of selling the prod/ser/.
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This note was uploaded on 03/28/2011 for the course MNGT 305 taught by Professor Chadwick during the Spring '11 term at Nicholls State.

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Ch 6 - CHAPTER 6 DEVELOPING AN EFFECTIVE BUSINESS MODEL...

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