Question

What is the difference between business strategies and business models?

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

Answer 1

Business strategies involve long-term plans and actions to achieve goals, while business models focus on value creation and operations.

Step-by-step explanation:

Business strategies refer to the actions and decisions that a company takes to achieve its goals and objectives. These strategies include the overall plan and direction of the business, such as identifying target markets, defining product/service offerings, and deciding how to gain a competitive advantage.

Business models, on the other hand, focus on how a company creates, delivers, and captures value. It describes the way a business generates revenue and how it operates. A business model encompasses elements like revenue streams, cost structure, customer segments, value proposition, and key activities.

In summary, business strategies deal with the long-term plans and actions to achieve business goals, while business models focus on the value creation and operational aspects of a business.

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