Blank Chapter 6 Notes

Blank Chapter 6 Notes - Chapter 6 Developing an Effective...

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Chapter 6 Developing an Effective Business Model ***Highlighted = Notes on Exam 1 Study Guide*** Business Model - ___________________________________________________________________________________________ _____________ ___________________________________________________________________________________________ ________________________________ 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: The Value Chain - ___________________________________________________________________________________________ ___________ ___________________________________________________________________________________________ ________________________________ Value Chain Analysis used to: ______________________________________________________________________________ _____ ______________________________________________________________________________ _____ Potential Fatal Flaws of Business Models: ____________________________ (poor market assessment) ____________________________
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