Digital Transformation: What is a Business Model
The ZDNet website noted that business models play an essential role in defining the value that any organization delivers to its customers. When an industry or group fundamentally changes how it provides value, business model innovation is often involved. Business models expire much faster today [than in the past]. Twenty years ago, you could say “I’m in this industry – I’m in the airline industry,” and everybody would know what you do. Today, you tell somebody what industry you’re in, they won’t know what your business looks like or how it works.
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