What is a business model?
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A business model describes the fundamental elements of a company, such as its customers, its products or services, its revenue sources, and its cost structure. It is a strategic tool that helps companies identify, plan, and track their profitable business activities. A business model can also help a company differentiate itself from the competition and gain a competitive advantage.