A business model describes how a business makes many and allocates resources. It is the engine by which a business operates. Understanding a customer’s business model helps to understand business requirements and where web solutions can support and improve the model’s operation and efficiency. Understanding your own business model helps to differentiate and articulate how your own business functions.
Essential Skills & Abilities
- Understand the components of a business model
- Identify business models that can be enabled by a web platform
- Evaluate a business model using various modeling techniques
- Prepare a business plan using a business model as an input
- Develop multiple iterations of the business model using feedback and analysis
- Perform focus groups and surveys to inform business model iterations