1: WHAT DEFINITION OF BUSINESS MODEL DO YOU FIND MOST  USEFUL AND WHY?

I find both of them very useful, and at the end they are more ore less the same and they converge to the same conclusion. But if I had to choose I would choose the second one, since I believe it is easier to make an idea of the business with just taking a look, which at the end its the real purpose of a business plan. At the time to present the business plan its easier to explain and to understand when you visualize the second model.

2: WHAT ARE THE SIMILARITIES AND DIFFERENCES BETWEEN THE TWO TOOLS FOR DESIGNING  BUSINESS MODELS?

Similarities: Both have to identify the value of the business and how the business can be above other competitors. They focus on market analysis and your main partners.

Differences:I think model 2 goes through more details than model 1. Model 1 has a competitive strategy, where as Model 2 has a part on how to get new customers. Model 1 wants to identify the cost structure and profit potential, where Model 2 asks where are the major costs for resources and activities

3: WHY WAS GREIF PACKAGING, DESCRIBED IN CHAPTER 2, ABLE TO CAPTURE  MORE OF THE VALUE  IN THE SUPPLY CHAIN? WHERE DID THE EXRA VALUE COME FROM, AND WERE THERE OTHERS WHO LOST THE VALUE THEY WERE SELLING?

The main reason is that they were adhered to their customers points of pain. They realized that customers needed a safe transportation of their toxic chemicals. They took advantage on customers needs to make the value of their business and introducing to a new market.

6: NAME THREE SIMILARITIES AND THREE DIFFERENCES BETWEEN A FRANCHISE AND A LICENSE.

Similarities:

1. Both are required to be very specific

2. The licensors and franchisor receive an income generated from the franchisee/licensee

3. Both can issue intellectual property right.

Differences:

1. In  a franchise agreement the limitations of the franchisee’s business are clearly defined, whereas,  in a license one, the licensee  could have more freedom if  these limitations are not indicated in the agreement,

2. In contrast to a franchise agreement, a license agreement clearly defines the territory where a licensee would be doing business, and

3. A franchisor is required by law to provide the franchisee with the Uniform Franchise Offering Circular document, so that  the purchase is aware of the risks and dangers of the franchise agreement; this is not necessarily required in a license agreement.