Question

What is the difference between business strategies and business models?

A. Business strategies incorporate forms of traditional business
advertising, while business models incorporate the use of social
media.
B. Business models focus on specific aspects of a business, while
business strategies focus on how different aspects affect the
whole business.
C. Business strategies include long-term business plans, while
business models include plans for daily business functions.
D. Business strategies focus on specific aspects of a busines while
business models focus on how different aspects affect the whole
business.

Answer 1

Business strategies focus on how different aspects affect the whole business, while business models focus on specific aspects of a business.

Step-by-step explanation:

The difference between business strategies and business models is that business models focus on specific aspects of a business, while business strategies focus on how different aspects affect the whole business.

A business model is a plan that outlines how a company will generate revenue and create value for its customers. It describes the core activities, key resources, and customer segments. Examples of business models include subscription-based models, freemium models, and advertising models.

On the other hand, a business strategy is a plan of action designed to achieve specific business goals. It involves making decisions on how to allocate resources, compete in the market, and differentiate from competitors. Business strategies can include pricing strategies, market entry strategies, and product differentiation strategies.

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