BU121 Lecture Notes - Lecture 1: Ebay, Making Money, Business Model Canvas
Document Summary
Why companies with essentially the same product might have different business models. How a company"s business model affects how it operates. Why it is important to understand your business model. The different building blocks that make up a business model. Some of the common patterns found in business models. The process of building a business model and how to apply it. A business model describes the rationale of how an organization creates, delivers, and captures value alexander osterwalder. How a company intends to make money/the logic by which it sustains itself financially. Reflects the strategic decision and trade-offs that entrepreneurs make to earn a profit . How your idea actually becomes a business. A product is the center of a business model, but it is not a business in and of itself it can"t succeed without a great business model . Example: gillette vs. electric razor: how they make money. Gillette: repeat customers, keep buying razor blades.
