Categories: Product Development
A business model describes the rationale of how an organization creates, delivers, and captures value. It is a visual chart with elements describing a firm’s value proposition, infrastructure, customers, and finances.
Definition of "Business Model" by Chat GPT: A business model outlines the structure and strategy through which a company creates, delivers, and captures value. It defines the products or services offered, target customers, revenue sources, cost structure, and how the business will sustain itself over time. The business model is essential for understanding how a company operates and generates profit.
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