The BEST Business Model Ever
The meaning of a Model A model by itself is the interpretation, representation or simulation of a theory in real life. It's how we mentally try to imagine or portray what a theory, principle, concept or idea will look like in practice. According to Dr. Phil Walker, "Models are used to help us understand how things might work in real life. They are the mental representation of an outward reality. A good working model must be exact enough to give us answers to how things will work yet flexible enough to allow for adjustments and changes." In case all of the grammar in the definition above didn't sink, here's one that might sink. I'm sure you are very familiar with models, they come in different categories; we have beauty models, fashion models and role models. Picture a fashion model for example, what do they do? They basically portray how a particular design of an apparel or clothing will look like when worn in real life. They are in other words, the repres...