Euchner and Ganguly 2014 (†657)Euchner, Jim, and Abhijit Ganguly. "Business Model Innovation in Practice" Research Technology Mangement 57:6 (November/December 2014), p.33-39.
- business model (p.33): The concept of the business model is actually simple: the business model is the means by which a firm creates and sustains margins or growth. The business model, defined in this way, is inherently embedded in a firm's competitive environment: the ability to create margins and growth is dependent on what competitors are doing to create margins and growth for themselves. The business model is not simply the means by which a firm creates and captures customer value. Focusing on creating customer value without regard to competitive advantage will leave a firm vulnerable to both margin erosion and anemic growth. Because the competitive environment is forever changing, business models require constant vigilance; they must be adapted and strengthened over time as the competitive environment evolves. (†1501)