ZOTTZeroing in On The Truth
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A business model is "the content, structure, and governance of transactions design so as to create value through the exploitation of opportunities" (Amit and Zott 2001).
Zott and Amit (2007) and Teece (2010) characterize business models as systemic answers to the question of how a company creates and captures value by interconnecting the resource side and the market side.
These finding are in consonance with Theece, Pisano and Shuen (1997), Eisenhardt and Martin (2000), Zott (2003), Theece (2007), Wang and Ahmed (2007) and Wilden et al.
They said that the meeting was held to chalk out an action plan to expedite efforts to make the oil terminal fully operational in accordance with the order of the Supreme Court regarding the shifting of oil tankers to ZOTT.
Business models can also be considered as boundary-spanning activity systems (Zott & Amit, 2010), whereby their boundary-spanning nature is verified by the value created beyond the firm itself and which may be shared across a wider set of stakeholders (focal firm, partner firms, customers, suppliers, advertisers, and general public).
Although definitions of BMs differ in both scope and concept, usually these definitions take an individual company perspective focusing on creating and delivering value (Lambert & Davidson, 2013; Zott et al., 2011).