online-business-models

Vocabulary Word

Definition

'Online business models' are strategic approaches or plans used by businesses to generate revenue online. These models also determine how the business interacts with users and how efficiency and scalability are maximized.

Examples in Different Contexts

For startups, 'online business models' describe the various strategies used to generate revenue through the internet, such as subscription services, e-commerce, or advertising. A startup founder might discuss, 'We're exploring different online business models to find the most sustainable way to monetize our digital platform.'

Practice Scenarios

Business

Scenario:

We've seen tremendous growth in e-commerce, and many businesses are moving online. What's our plan in this digital landscape?

Response:

Our focus should be to establish a robust online business model. Direct selling online can significantly boost our revenues.

Impact

Scenario:

Our mission is to create social impact while maintaining a profitable venture. How do we integrate these objectives in our online business strategy?

Response:

Our online business model could include a subscription service, where each subscription contributes to social causes.