| Summary: | Do you manage to your business model? The purpose of this book is to provide the reader with the insights to strategically manage from a business model perspective. What does that mean? It means that managers have to first think rigorously about their value proposition, their current or future competencies, and their revenue streams and cost structure before developing, adopting, or modifying their strategies. What is the difference between a business model and a strategy? A business model is how a company operates and a strategy is how a company competes. When the basis of competition changes because a new model disrupts the economics in the industry (e.g., publishing and book retailing) it requires an adjustment in business models before any new strategy can work. This book adds a business model level to the traditional strategic management process to be more consistent with current "real-world" practices in strategic thinking and analysis. It takes the reader deeper into the intricacies of what constitutes a business model and how current strategy is derived from it. It is based on the premise that effective strategies cannot be formulated without understanding the fundamental elements of a business model.
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