Unveiling the Secrets to Successful Business Models and Strategies!
The article explores what makes a business model successful by tracing it back to the concept of the "business idea". It emphasizes the importance of aligning the market, product system, and internal features of a firm. The researchers connect elements of business models to strategic management concepts like customer offering and strategic resources. They also discuss how contextual factors impact business models. The article highlights that good strategies help achieve objectives, make clear choices, and leverage strengths. It aims to assist practitioners and postgraduate students in understanding and applying strategic management principles.