Search

The business model concept is becoming ever more popular within Industries, management and strategy literature. It is used in many areas of research, including both traditional strategy theory and modern business theories. However, the concept is often used separately from theory, hence, components of model and their interrelations are relatively indecipherable. Still researchers believe business model concept and its application in industries are all the more important for their success. This paper provides an idea of a conceptual business model and discusses its evolution. The paper also makes an attempt to define the components essential for the success of business. [ABSTRACT FROM AUTHOR]