Article by Eshani Jain. What is a business model?
The term business model caught the buzz only a while ago but has been in use since ages.
Business models have only recently, become so sophisticated. However the importance of a business model is only increasing day by day. Think – Uber.
How does the world’s largest taxi company which doesn’t have to own a single taxi encounter losses each year? Well, the answer lies in its business model.
Why did people keep investing at Amazon even after it kept on getting losses years on end? The answer’s again in its business model.
And, why do some companies like Kodak get wiped out from the competition of consumer cameras even though it practically invented both the chemical and digital camera!?
Yet again, the answer is in the company failing to understand its business model.
It may seem hard to comprehend all of this right now, especially since you may not know much about the term, but let’s keep this in the back of our heads and keep reading.
Michael Le…