The two crucial elements of a company's business model are

its customer value proposition and its profit proposition or "profit formula."

its proposition for achieving an attractive return on investment and its action plan for attracting adequate numbers of customers.

its proposition for satisfying shareholder expectations and its proposition for growing revenues.

its proposition for outcompeting rivals and the pricing formula it will employ to attract and please customers.

its pricing formula and the set of actions and approaches that it will employ to achieve market leadership.