Editing Business model (section)

{{Short description|Description of how businesses operate}}
[[File:The Cambridge Business Model Innovation Process.png|thumb|260x260px|Business model innovation is an iterative and potentially circular process.<ref name=":1" />|alt=]]
A '''business model''' describes how a [[Company|business organization]] creates, delivers, and captures [[value creation|value]],<ref name="Osterwalder2010">''Business Model Generation'', [[Alexander Osterwalder]], [[Yves Pigneur]], Alan Smith, and 470 practitioners from 45 countries, self-published, 2010</ref> in economic, social, cultural or other contexts. The [[model]] describes the specific way in which the [[business]] conducts itself, spends, and earns money in a way that generates [[Profit (economics)|profit]]. The process of business model construction and modification is also called ''business model innovation'' and forms a part of [[business strategy]].<ref name=":1">{{Cite journal|last1=Geissdoerfer|first1=Martin|last2=Savaget|first2=Paulo|last3=Evans|first3=Steve|date=2017|title=The Cambridge Business Model Innovation Process|journal=Procedia Manufacturing|volume=8|pages=262–269|doi=10.1016/j.promfg.2017.02.033|issn=2351-9789|doi-access=free}}</ref>

In theory and practice, the term ''business model'' is used for a broad range of informal and formal descriptions to represent core aspects of an organization or [[business]], including [[Mission statement|purpose]], [[business process]], [[target market|target customers]], offerings, strategies, [[infrastructure]], [[organizational structure]]s, profit structures, sourcing, trading practices, and operational processes and policies including [[Business culture|culture]].
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