What is a business model?

What is a business model?
2. What are the critical elements of a business model?
3. What is the difference between a business model and strategy?
4. In what circumstances might a business model and strategy appear to merge?
5. What is the most critical element of strategy?
6. After answering the above 5 questions (based on the HBR article), give an example of the following for Xerox – from the Business Model article on innovation, which is posted in D2L:
• Economic Logic
• Value Propositions
• Strategy
Hint: Table 1 will be useful in answering this question, but be careful to apply the terminology as discussed in the HBR article.
7. For the fast food industry, identify:
• Fast Food Business Model
• Fast Food Value Propositions
• Business Strategies for McDonalds, Burger King, and Wendy’s
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