A business model focuses on what a company does to satisfy customer needs and be profitable.
A value chain model focuses on how the company satisfies the business model.
A business model is strategy oriented. A value chain model is process oriented.
Business models assess customer needs and come up with a strategy to provide products and services in an innovative way to satisfy those needs.
The value chain model is how those products and services will be created and provided through processes and information flows.
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