The term “business model� has bothered me for a long time. I have always found it to be a glib method of characterizing a company’s relationship with its various constituencies, e.g., customers, suppliers, competitors, etc. The problem isn’t really the concept. The problem is that it’s a complex, multidimensional structure that doesn’t really lend itself to a summary sentence, at least not if you really want to understand the business. Yet it one of those economic terms that has entered the popular lexicon as the rise of business schools in the 1970s and 1980s mainstreamed “businessperson� as a profession (like engineer, doctor, or lawyer).
Photo by Thomas Hawk.
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