BUSINESS MODELSWHY BUSINESS MODELS MATTER

• Business Model Is Important, But Not Everything

TELLING A GOOD STORY

• Like American Express Traveler’s check

DIFFERENCES BETWEEN A BUSINESS MODEL AND STRATEGY•  Joan Magretta calls a business model a story.

IMPORTANCE FOR A SUCCESSFUL BUSINESS

• The article emphasizes that the strength of a business model as a planning tool

CRITICAL TESTS

• There are two important tests to see if a business model will actually be effective .