Amy Has Missed Class for the Past Two Weeks

Amy has missed class for the past two weeks. She learned that the class discussion during her absence focused on building successful business models. She is unsure of the meaning of a business model. She comes to you for a better definition and conceptualization of a business model. You would probably tell her that a business model is ____________________________.

A) A firm's plan of action.
B) A firm's intention to further pursue a business opportunity.
C) A firm's plan or diagram for how it competes, uses its resources, structures its relationships, interfaces with customers, and creates value to sustain itself on the basis of the profits it earns.
D) A firm's ability to generate profits once it is started.