BU121 Midterm: Midterm Review
Document Summary
Multiple choice (56% are from textbook + lectures)= 25. What did i learn why did i learn it how do i apply it . Lecture material: what a business model is. A business model describes the rationale of how an organization creates, delivers, and captures value; model affects strategy/ways of operating; business models are. At heart stories stories that explain how enterprises work : why it is important to understand your business model (lab manual why business models. How do we make money? what is underlying economic logic that explain how we can deliver value to customers at an appropriate cost?) how companies can have essentially the same product and different business models. Because companies can have different ways of generating revenues. For example, companies can have the same product but some can charge recurring fees, one- time fees or prevent fees. (gillette vs phillips razors) implications of business model on operations.
