What Are Business Models?
Simply put, a business model is an abstract representation of a business that provides a simplified look at various aspects of the business. A business isn't represented with just one type of “business model.” Different models will emphasize certain business characteristics or concepts while hiding other aspects at the same time. In this way, you can focus on certain relevant information about the part of the business that you want to address. For instance, we are all familiar with organization charts, which are models of a business's overall organizational and management reporting structure (see Figure 2-1).
Figure 2-1. Business organization chart for the Department of Justice.
There are business ...
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