This is what wikipedia said,
Open Business Model is business model describes the rationale of how an organization creates, delivers, and captures value – economic, social, or other forms of value. The process of business model design is part of business strategy.
there is six components of business model:
Value Proposition – a description the customer problem, the product that addresses the problem, and the value of the product from the customer’s perspective
Market Segment – the group of customers to target, recognizing that different market segments have different needs.
Value Chain Structure – the firm;s position and activities in the value chain and how the firm will capture part of the value that it creates chain
Revenue Generation and Margins – how revenue is generated, the ciost structure, and target profit margins/
Position in value network – identification of competitors, complementors, and any network effects that can be utilized to deliver more value to the customer.
Competitive Strategy – how the company will attempt to develop a sustainable competitive advantage.
thanks a bunch 😀