Chapter 6 - Chapter 6 Developing an Effective Business...

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Chapter 6 Developing an Effective Business Model ***Highlighted = Notes on Exam 1 Study Guide*** Business Model - a firm’s plan or diagram for how it competes, uses its resources, structures its relationships, interfaces with customers and creates value. There is no one best, or standard, business model Feasibility Analysis Business Model Business Plan Importance of the Business Model : 1. Serves as an ongoing extension of the feasibility analysis. 2. Focuses attention on how all the elements of a business fit together and constitute a working whole. 3. Describes why the network or participants needed to make a business idea viable would be willing to work together. 4. Articulates a company’s core logic to all stakeholders, including the firm’s employees. Ultimately, a business model is viable to the degree to which the buyer, the seller, and the partners involved, see it as an appropriate method of selling the prod/ser. How Business Models emerge:
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This note was uploaded on 06/12/2011 for the course MNGT 305 taught by Professor Chadwick during the Spring '11 term at Nicholls State.

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Chapter 6 - Chapter 6 Developing an Effective Business...

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