Developing a business model centers on clarifyingwhat value is offered (value proposition)andhow the organization operates to deliver that value (operating model). The value proposition defines the unique benefits the organization provides to customers or stakeholders, while the operating model details the resources, processes, and organizational capabilities required to create and deliver that value. This dual focus aligns with the BCG's approach and is foundational in strategic formulation, ensuring that the business model is coherent and executable. The mission and vision are important but represent broader guiding statements rather than operational or value elements. The IASP SPP curriculum emphasizes this twofold focus for effective business model development to drive strategy formulation and competitive positioning.#IASP SPP Study Guide - Business Model Development##Osterwalder & Pigneur, Business Model Generation#