Business Models : Business Model

2728 Words11 Pages
Business Model Final 1 Sonya Morell APUS Business Model Final Business Model Final 2 Business models have a huge impact on how an organizations operate. It is crucial that an organization chose a business model before inception in order to succeed. Basically, business models have become the new basis of competition, replacing product features and benefits as the playing field on which companies emerge as dominant or laggards (Plantes, 2013). The business model canvas is an excellent choice for businesses to use when starting a business. It was created by Alex Osterwalder and Yves Pigneur. The Business Model Canvas, is a strategic management and entrepreneurial tool and it allows you to describe, design, challenge, invent, and pivot your business model (The Business Model Canvas, 2015). From a business standpoint, the business model canvas is easy to use and it comes in different forms of software. Start-up businesses can use the model in a variety of ways. The business model canvas can help them determine who their customer base will be and aid them in finding out how to reach them. In today?s business world, competition is everywhere. A start-up business must be able to be competitive in order to succeed. Finally, a start-up business must be able to understand the competition and where they stack up against them. A good example is a children?s clothing store. They must be able to understand what has made their competitors like Carter?s and

More about Business Models : Business Model

Open Document