Answered

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



Answer :

GinnyAnswer

Final answer:

Business strategies set the long-term direction of an organization, while business models define how a company operates. The distinction lies in strategies focusing on goals and direction, while business models detail operational specifics.


Explanation:

Business strategies encompass the overarching plans and direction of an organization, focusing on achieving long-term goals. On the other hand, business models detail how a company operates, including its value proposition, target customers, resources, and operations.

For example, a company's strategy may include the goal of becoming a leader in product innovation, while its business model outlines how it will deliver these innovative products to customers efficiently and profitably.

The key distinction lies in business strategies providing the overall direction and purpose, while business models delve into the specific operational aspects and mechanisms that facilitate the execution of the strategy.


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