After reading the assigned chapter and watching the video lecture for this week, respond to the following:

1.    Why is the concept of the business model important? In what ways is it useful?

2.    Why is it sometimes necessary for existing firms to evolve their business model or for startups to pivot theirs?

3.    Can a company have more than one business model? Can you find an example of a business with more than one business model (excluding Amazon)?

4.    How do business models evolve?

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