The Business ModelMichael Lewis (2000: pages 256-257) mocked any attempt to formalize the definition of business models when he wrote that “Business Model” is one of these terms of art. which were at the heart of the Internet boom: it glorifies all kinds of poorly prepared projects. All it really meant was how you plan to make money. a well-known, important and widely used term by the media, management consultancies and top business executives, is simply embarrassed by the fact that there is no consensus on its definition and few articles in academic periodicals. "He designed and discusses his design of business model-based interfaces interacting in indoor and outdoor business environments. Peter Weill, Thomas W. Malone, Victoria T. D'Urso, George Herman, and Stephanie Woerner of MIT in their article "Do Some Business Models Perform Better than Others?: A Study of the 1000 Largest American Businesses agree that the concept of business models, although widely discussed, is rarely systematically discussed. The article then posits a conceptual framework for classifying business models. comprehensively business models These are four basic types of business models (creator, owner, distributor and broker), each broken down into four variants based on the type of assets they deal with (physical, financial, intangible). and humans). Thus giving rise to 16 types of specialized business models." Professor Michael Rappa, like many others, prefers to present a comprehensive and compelling taxonomy of the basic categories seen on the web as follows: BrokerageAdvertisingInfomediaryMerchantManufacturer (direct)AffiliateCommunitySubscriptionUtilityHe. does not, however, believe that these are exhaustive. and expects new and interesting variations in the future. KMLab Inc. offers an interesting definition: “A business model is a description of how your company intends to create value in the marketplace. This includes that unique combination of products, services, image and distribution that your business achieves. It also includes the underlying organization of people and the operational infrastructure they use to accomplish their work. In some ways... middle of paper ... processes such as inventory management, etc. Maybelline, a company founded in 1915, is one of the best-selling color cosmetics lines in the United States. It is sold in the outlets of almost all major mass market retailers, such as supermarkets, pharmacies, discount stores and specialty cosmetics stores. Its products are also available in more than 70 countries around the world. Maybelline uses a traditional model in its sales distribution network, which involves using sales representatives to solicit business and organize sales. The use of sales representatives who are employees makes this a model of business-employee-business interface. In the 1990s, the company, a traditional “mortar” company, reinvented itself as a “click and mortar” company through the use of ICT. However, an innovation of the sales representative concept is Maybelline's use of its representatives as market news reporters, who effectively serve as the company's eyes to monitor the progress of its products and how they are performing. are addressed by retailers as well as the progress of competitors. " products. This is the business/sales structure of the company, which cannot be considered a new business model..