The business model: an integrative framework for strategy execution

We have many useful frameworks for formulating business strategy, i.e., devising a theory of how to compete. Frameworks for strategy execution are comparatively fragmented and idiosyncratic. This paper proposes a business model framework to link the firm's theory about how to compete to its execution. The framework captures previous ideas about business models in a simple logical structure that reflects current thinking in strategy. The framework is a useful tool for the strategist, for teaching, and for research on business models in strategy.