Business Models

The business models actually need to describe the phases of the work of an organization. This needs to define how an organization creates, delivers and captures values. In nut shell, the Business Model that is created by a Business Analyst, should include all purposes, offerings, strategies, infrastructures, resource plannings, operational policies, processes, giving a complete picture of an organization from the high level prespective.

Busness Model actually defines what a Business does, How a Business does & When a Business does & how the money is made out from those things. Business Models likely group together the large group of the businesses that seem to be likely similar. In reality the term "Business Model" came into existence only at the time of DOT COM boom.

Everytime a Business Model is created a few of the following attributes need to be taken care of:
     1. The Business Model should be unambigious i.e. anything can be interpreted in more than one way.
     2. The Business Model needs to be complete. It must specify all the Business Rules, processes & informations required to build the system
     3. Another important aspect needs to be that the Business Model should be consistent with both enterprise & resources involved with the project
     4. All the processes & the entities of the Business Model need to be traceable
     5. The Business Model should always define the statement about the system & specifies how the same is to be implemented
     6. The Business Model should be able to define & describe the position of the firm with the value network

On the basis of the above definition of the Business Model, we have classified the same into:
     1. Rational Model 
     2. Natural or System Model 
     3. Socio - Technical Model 
     4. Cognitive Model