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The business model canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
Business model innovation types [62] When an organisation creates a new business model, the process is called business model innovation. [63] [64] There is a range of reviews on the topic, [62] [65] [66] The concept facilitates the analysis and planning of transformations from one business model to another. [66]
Articles relating to business models, the rationale of how an organization creates, delivers, and captures value, [1] in economic, social, cultural or other contexts. The process of business model construction and modification is also called business model innovation and forms a part of business strategy. [2
Innovation, although not sufficient alone, is a necessary prerequisite for the continued survival and development of enterprises. [10] The most direct way of business innovation is through technological innovation, disruptive innovation or social innovation. Management of innovation, however, plays a significant role in promoting technological ...
An activity is represented with a rounded-corner rectangle and describes the kind of work which must be done. An activity is a generic term for work that a company performs. It can be atomic or compound. Task A task represents a single unit of work that is not or cannot be broken down to a further level of business process detail.
Business strategy drives selection of business models. These business models drive the design of underlying processes and services. Business Analysis is critical: Any number of models can address a strategic imperative. But the best models, services and processes will exploit existing business capabilities (human, IT and physical), the areas where change is possible and the areas where invest
The formal model of artifact-centric business processes and views, namely ACP, is defined and used to describe artifacts, services, business rules that control the processes, as well as views. They developed a bottom-up abstraction mechanism for process view construction to derive views from underlying process models according to view requirements.
Enterprise modelling is the process of building models of whole or part of an enterprise with process models, data models, resource models and/or new ontologies etc. It is based on knowledge about the enterprise, previous models and/or reference models as well as domain ontologies using model representation languages. [3]