From Strategy to Business Models and onto Tactics

Strategy scholars have used the notion of the Business Model to refer to the ‘logic of the firm’ – how it operates and creates value for its stakeholders. On the surface, this notion appears to be similar to that of strategy. We present a conceptual framework to separate and relate the concepts of strategy and business model: a business model, we argue, is a reflection of the firm's realized strategy. We find that in simple competitive...