Paper 3 Flashcards
1
Q
What are two critical themes of business models according to paper 3?
A
- Design-efficiency centered business models
2. Novelty-centered
2
Q
What is an entrepreneurial firm?
A
A relatively young organization with the potential of attaining significant size and profitability.
3
Q
How can business models create value for the companies?
A
- Increasing the customers’ willingness to pay
- Decreasing suppliers and partners
4
Q
What is the essence of an efficiency-centered business model?
A
The reduction of transaction costs
