Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ideal response? The interactions between the business model components can be used to make the pivot or proceed decision. The key components of the business

ideal response?

The interactions between the business model components can be used to make the pivot or proceed decision. The key components of the business model are customer segments, customer relationships, value proposition, distribution channels, and revenue streams. With the business model components you decide whether you want to pivot or proceed. For example you need to decide what your market type is going to be and how that market will affect the success of your business. It is really important to understand your market for your business to see if you are going into an existing market or not. If the market already exists then you need to figure out how to pivot your ideas so that you are not copying someone else's idea as you want to have original ideas. Another main thing about the business model components is through the business model components you can decide whether you need to pivot or proceed. If you have found a good combination then you would want to proceed but if you need to keep searching then that is pivoting. If you proceed you know that your business model is successful. You might be strong in one area but might need to change some things around which is okay but you will need to pivot some things so that you find that perfect combination to proceed. Once you analyze the interactions between the business model components, you can use those to help you make better informed decisions on the next step for the business.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mergers Acquisitions And Other Restructuring Activities

Authors: Donald DePamphilis

11th Edition

012819782X, 978-0128197820

More Books

Students also viewed these Finance questions

Question

What advantages does this tactic offer that other tactics do not?

Answered: 1 week ago

Question

What is the timeline for each tactic?

Answered: 1 week ago