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The Essay The objective of this essay is to develop your understanding of the business model as a concept and how a theoretical understanding of business models can be used to explain the exploitation of innovations by organisations in real-life. To successfully complete this part of the assessment, you are required to write an essay based on the following: There are many conceptualizations of a business model in the academic management literature. Why do you think there are so many?
In answering this question, make sure you describe and compare three business model conceptualizations from the extant literature. Of the three conceptualizations, identify your preferred conceptualization and explain why you prefer it. To ground your argument, apply your preferred conceptualization to an example from real-life, that is, describe the exploitation of an innovation introduced in the last five years by a business using your preferred business model approach. minimum 20 and only peer review scholarly journey and articles
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