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    Analysis of Business Models

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    As a consultant, you are being asked for your views on whether the text model or your choice model is more business friendly?
    List the strengths and the weaknesses of each model.
    What are some of the risks associated with each approach?

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    Solution Preview

    Step 1
    The text model is more business friendly. I have reached this view from the perspective of the business. The text model is a written model that gives well described steps that may be used for decision making. The text model ensures that the decision makers follow the prescribed steps every time a decision of importance is to be made. Let us consider a very common model. Outline your goal and outcome, gather information relating to the problem, generate alternatives, consider the advantages and disadvantages of each alternative, select the best alternative, act on the decision, and evaluate the decision and learn from it. The model requires the decision makers to undertake these steps whenever they use the model. From the point of view of business this means better decision making. On the other hand when ...

    Solution Summary

    This posting gives you a step-by-step explanation of text model of business. The response also contains the sources used.