A business model is a high-level conceptual representation that explains how an organization creates, delivers, and captures value. This encompasses the organization’s core logic for creating value, and may include its intended customer segments, the value propositions it offers, the channels through which it reaches customers, customer relationships it establishes, key activities, resources, and partnerships, as well as the revenue streams and cost structures. Thus, it is a visual and strategic representation of how a business operates and competes in the marketplace.
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