Description
Review Business Models Parts III & IV in the Business Model Generation text. After your review, prepare a post highlighting the five (5) major points from your review. The overarching theme for this posting is “Decision Making.” Share your findings via the discussion forum
Explanation & Answer
Complete.
1
Running head: BUSINESS MODELS
Business Models
Institutional Affiliation
Date
BUSINESS MODELS
2
Business models describe the underlying principle of how a company creates, captures
and delivers value in various aspects of a business, including economic, cultural and social
contexts. The iii and iv parts of the business model generation text describes how a business
creates value by establishing effective customer channels and relationships. Some critical points
can, therefore, be drawn from these two parts of the business model.
Channels building blocks refer to the method that a business chooses, for communicating
with and creating value for customers within a particular market segment. Channels form an
important base on which an organization interacts with its customers and gain critical knowledge
such as customer attraction, feedback and satisfaction. It entails organizational decision on how
to attract, serve and retain customers. Channels also refer to the medium through which
organizations get the opportunity to educate customers in a particular segment on their products
and...
