0 Saved Help Save & Exit Submit The basic idea of a business that explains which customer needs will be met, how the functions and operations will be organized, and how money will flow in and out is called a business model. 50:36 True or False ok True

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The basic idea of a business that explains which customer needs
will be met, how the functions and operations will be organized,
and how money will flow in and out is called a business model.
50:36
True or False
ok
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It is TRUE that the basic idea dealing with how a business meets its customers' needs, the functions and operations that it organizes, and the finances is mostly captured in its business model.Basically, a business model is a profit-making plan.  It expresses the products and services that a business has devised to meet customers' needs, using the bases of a given target market and expected costs.Differing components have been identified by various researches that form a business model.  There is no general agreement as to what the components should be.However, the focus of a business model is on customers, infrastructure, and capturing value from business activities.  These activities consume resources, which is at the center of the relationship between customers and value creation.Thus, a business model is an important idea or plan that must be created at the beginning of a business to make it a value-creating venture.Read more about an example of a business model at https://brainly.com/question/1171429

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