Business Models & Stakeholder
A business model describes the rationale of how an organization creates, delivers, and captures value. It is like a ""blueprint"" for a strategy implemented through organizational structures, processes, and systems. In essence, how a company intends to make money and survive. This course discusses effective for-profit, non-profit, and other types of organizations in terms of their business models, stakeholders, and organization design. Competitive advantage is achieved through focused and innovative business models. Companies in the same industry will have different business models-and different success levels. Business models often spring from the unsatisfied needs of customers, new technology innovations, or new and unique value propositions. In order for companies to operate effectively and competitively they need good business models that create virtuous cycles.