Advances in Automobile Engineering
Open Access
ISSN: 2167-7670
+44 1300 500008
ISSN: 2167-7670
+44 1300 500008
El-Haudor Shua-eyb
Ghana Institute of Languages, Ghana
Posters-Accepted Abstracts: Adv Automob Eng
Business model is a widespread term which is intensively used in organizations and the media, yet there is some â??academic reluctance (in main-stream journals and texts) to acknowledge the term, its uses and its consequencesâ?. Furthermore, there is no single, well-established and widely acknowledged definition available. Nevertheless, attempts at defining the concept usually describe it as the process of how a firm operates and how it makes profits according to the financial Times lexicon. The business model concentrates on value creation. It can be added that it is essentially related to the local political, social and cultural context. There is still some debate about the proper place of the business model. Baden-Fuller & Haefiliger (2013), claim that it deserves to be a stand-alone concept in its own right. It can be clearly seen that after some initial skepticism â??work on business models gained greater theoretical and empirical status with mainstream academic journalsâ? and recently the number of article on business models has considerably increased. In another framework business models are seen as exemplar role models, as nutshell descriptions of business organization, as models in the scientific sense and as recipes: â??Practical models of the technology that are ready for copying but also open for variation and innovationâ?. Business models in this context can play any or all these roles in business strategy. All this reveals that this seemingly simple concept leads itself to a lot of scientific discussions and worth looking at.
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