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Business model innovation is an iterative and potentially circular process. [1] A business model describes how an organization creates, delivers, and captures value, [2] in economic, social, cultural or other contexts. The model describes the specific way in which the business conducts itself, spends, and earns money in a way that generates profit.
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 Process Model and Notation (BPMN) is a standard for business process modeling that provides a graphical notation for specifying business processes in a Business Process Diagram (BPD), [3] based on a flowcharting technique very similar to activity diagrams from Unified Modeling Language (UML). [4] The objective of BPMN is to support ...
Enterprise modelling is the abstract representation, description and definition of the structure, processes, information and resources of an identifiable business, government body, or other large organization.
Business capability models represent high-level views of an organization from the perspective of its business capabilities. [1][2][4] Essentially, they briefly describe everything that an organization can do. Business capability models are very stable and organizationally neutral in nature. They are largely independent of specific ...
Dynamic Business Modeling is defined as the enabler of a strategic advantage achieved by focused differentiation in any aspect of business (from marketing to finance to operations). This differentiation is achieved through how business is conducted: openly and dynamically defining the business model. Capital investment – human, physical and ...
Business process modeling (BPM) is the action of capturing and representing processes of an enterprise (i.e. modeling them), so that the current business processes may be analyzed, applied securely and consistently, improved, and automated. BPM is typically performed by business analysts, with subject matter experts collaborating with these ...
Business model pattern. Business model patterns are reusable business model architectural components, which can be used in generating a new business model. [1] In the process of new business model generation, the business model innovator can use one or more of these patterns to creating a new business model.