INNOVATION IN BUSINESS ENTREPRENEURSHIP MANUAL

MANUAL INNOVACIÓN EN EL EMPRENDIMIENTO EMPRESARIAL

its PC development unit to Lenovo, its hard disk drive unit to Cisco and its printer unit to Lexmark.

With this example of innovative thinking, at the time, IBM became the world's largest outsourcing, consulting and enterprise data recovery services company, turning the previously known types of business models on their head.

A business model is a plan or diagram that is used to make or describe how companies or organisations compete, (use their resources, their structures, their relationships, interfaces with customers), and create value to sustain themselves with the profits generated.

In essence, a business model answers four questions, which result in the creation of value in the company. These are: Who, What, How and How much?

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European Open Business School