Ultimately the goal of a business is to flourish enough to the point where it is recognized amongst the fortune 500. Which as the name implies the top 500 businesses. What the business model allows for a company to do is enter the competitive scene amongst other companies at a point of advantage. As the image shows the business model has a lot of strong points within it, which is what makes it so strong because it’s not that you have to use all these tactics. But more so that you can focus on one and utilize the rest to guide the company to the path that they want to take with it.
Nabil Amara states in Journal of business research volume 69, Issue 5, May 2016, “ Firms compete not only via their products or processes but also through their BMs. The BM is as, or even more, important than the product, meaning that it has a considerable impact on performance.” When you look at the competitive aspect of a company when compared to other companies the main focus is to look at how much is being produced and how much is being sold. However, when you look at the impact of BM the company starts to realize that the BM also has control of the economic value.
The graph shows how BM literature has been progressively used more over the years and shows over the course of time that the BM is being published more and discussed more. Around 2013 it started becoming more integrated and started being used more allowing for it to develop more into a stronger strategy. By 2018 you can see the highest results and from onward it only got higher.