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The concept of business model is perhaps one of the most misunderstood topics in Business and Management. Even amongst the experts consensus is difficult to come by. Yet business model as a concept is considered today to be extremely important as it concerns, sustainability, profitability and scalability of businesses. Aimed at novice as well as seasoned experts, my book gradually leads the reader into a journey of Business Modelling. We start by exploring the concept of what constitutes a Business Model - its definition, component parts, and its role in the organization. Next comes how business models are created. Two approaches are highlighted – ontological approach vs non ontological approach. Readers are now introduced to the Business Model Ontology (BMO) (developed by Alexander Osterwalder). The BMO is the root ontology upon which the Business Model Canvas (BMC) is based and is perhaps the gold standard when it comes to...
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