When an organization creates, delivers, and captures value, that is a business model. Strategic in nature business models can provide a competitive advantage.
Recently the Business Model Canvas was mad popular by Alex Osterwalder. The Business Model Canvas is a tool to help visualize operations, customers, sales channels, etc.
https://www.strategyzer.com/canvas/business-model-canvas
Components of a Business Model:
- value propositions
- target customer segments
- distribution channels
- customer relationships
- value configurations
- core capabilities
- commercial network
- partner network
- cost structure
- revenue model