Business Model vs. Business Plan
Aspect |
Business Model |
|
---|---|---|
Focus |
Describes how a business operates and creates value. |
Comprehensive document outlining business goals and plans. |
Scope |
Covers the fundamental aspects of a business’s operations. |
Encompasses detailed strategies, financial projections, etc. |
Flexibility |
Provides flexibility for adaptation and evolution. |
Generally more static, representing a fixed plan in time. |
Purpose |
Primarily focuses on creating, delivering, and capturing value. |
Outlines overall business strategy, objectives, and tactics. |
Components |
Includes key components like value proposition, revenue model, etc. |
Includes executive summary, market analysis, financial plan, etc. |