business model
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business model
The way in which a company creates value, delivers it to customers, and generates revenue from it. It describes the basic logic of how a company works and earns money.
Das Geschäftsmodell vieler Zeitungen hat sich durch das Internet stark verändert.
The business model of many newspapers has changed significantly because of the internet.
The word is composed of 'das Geschäft' (business) and 'das Modell' (model). The 's' in the middle is a linking s that connects the two parts. Literally, it therefore describes the model of a business.
Ein gutes Geschäft braucht auch ein gutes Geschäftsmodell.
A good business also needs a good business model.
Common verbs used with 'Geschäftsmodell' (business model) are 'entwickeln' (to develop), 'aufbauen' (to build), 'ändern' (to change), and 'umstellen' (to switch/convert). You can also say 'ein Geschäftsmodell haben' (to have a business model).
Das Start-up muss sein Geschäftsmodell noch entwickeln.
The start-up still has to develop its business model.
Typical adjectives that describe a business model are 'erfolgreich' (successful), 'innovativ' (innovative), 'nachhaltig' (sustainable), 'digital' (digital), or 'profitabel' (profitable).
Die Firma hat ein sehr innovatives Geschäftsmodell.
The company has a very innovative business model.
business idea
'das Geschäftsmodell' and 'die Geschäftsidee' both have to do with a company and making money. 'die Geschäftsidee' is more like the initial plan: What do you want to offer, and for whom? 'das Geschäftsmodell' describes more precisely how the company works over the long term, how customers are reached, and where the revenue comes from. Learners may confuse the words because both are important for new companies. In practical terms: the business idea is the starting concept; the business model is the logic behind it.
Das Geschäftsmodell der Firma basiert auf monatlichen Abos.
The company's business model is based on monthly subscriptions.
In der Pause haben wir eine Geschäftsidee für einen Lieferservice entwickelt.
During the break, we developed a business idea for a delivery service.