A Business Model Is a Plan That Details How a Company

question 34

True/False

A business model is a plan that details how a company creates, delivers, and generates revenues.

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Definitions:

New Technologies

Emerging or recently developed technological advancements, tools, or methods that potentially change existing practices or create new opportunities.

E-Business Strategy

A plan of action for leveraging digital technologies and Internet to conduct a company’s business processes, from procurement to customer service.

Competitive Advantage

The attributes that allow an organization to outperform its competitors, such as superior quality, innovation, or cost efficiency.

Porter's Five Forces

A framework developed by Michael Porter for analyzing the competitive intensity and attractiveness of an industry or market, including competitive rivalry, threat of new entrants, threat of substitutes, bargaining power of buyers, and bargaining power of suppliers.