What Is A Business Model Essay

Business models have been transformed by technology. Interconnectivity, globalization, and a digital, tech-driven world have all allowed innovative thinkers to rethink traditional models in sectors from travel to retail. One example of an age-old business model that has been transformed by tech is the platform business model.

• What makes business models very interesting is that two companies selling the same product can have a completely different business model.

• A business model is a fundamental description of how a business makes money. It can take the form of a rough plan sketched out on a post-it note or a 200-page document.

• Business models have been transformed by technology. One example of an age-old business model that has been transformed by tech is the platform business model.