Contents

• This report is based on the following requirements -
• Why Business Models Matter Joan Magretta
• https://hbr.org/2002/05/why-business-models-matter
• It is not only important to be able to understand what is a Business Model as well as how they are used in business, more importantly we should understand in the first instance WHY Business Models Matter?
• Introduction:
• “Business model” was one of the great buzzwords of the Internet boom, routinely invoked, as the writer Michael Lewis put it, “to glorify all manner of half-baked plans.” A company didn’t need a strategy, or a special competence, or even any customers—all it needed was a Web-based business model that promised wild profits in some distant, ill-defined future. Many people—investors, entrepreneurs, and executives alike—bought the fantasy and got burned. And as the inevitable counterreaction played out, the concept of the business model fell out of fashion nearly as quickly as the .com appendage itself.
• Critically analyse the article and write a 2500 word essay citing evidences to support your critique. The attached assessment criteria gives you an idea of the expectations of this assignment.
• Use the havard style of referencing.

Description

In the world of business, a strategy is the most common word and often most confused. The article shows and clarifies the vital element of an organization. By writing "What Management is" the author elaborates the business model and strategy beyond any of the organization no matter it could profit or nonprofit. To getting ahead in the business, the first step is to develop a business model, and the managers must think about its results. The concept of a business model is confused which results in multiple failures. It is crucial to know how to apply it in every case. The business model along with the business strategy has the effects on the firm to provide best products and trading condition to the customers. The article on the business model along with the concept of the organization in the Southeast Asian region is being applied in the essay to get the proper solution for the usage of the business model in the organization. The paper thoroughly discusses the entire process and the concept that the organization use in their business model.