ENTR 20000 Chapter Notes - Chapter 4: Target Market
24 Feb 2019
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Document Summary
Business model-firm"s plan or recipe for how it creates, delivers, and captures value for its stockholders. Business models are foundational to a firm"s ability to succeed both in short and long term. Best time to determine business model is following the initial validation of a business idea and prior to fleshing out the operational details. Standard business models-depict existing plans or recipes firms can use to determine how they will create, deliver and capture value for stockholders. Used commonly by existing firms as well as those launching an entrepreneurial venture. Churn-number of subscribers that a subscription-based business loses each month. Peer to peer business model is not sufficient to guarantee firm success. Disruptive business models-opens that do not fit the profile of a standard business model and are impactful enough that they dispute or change the way business is conducted in an industry or an important niche within an industry. New market disruption-address a market that previously wasn"t served.
