A business model refers to a company's strategy for creating, delivering and capturing value. It describes how an organization generates revenue, makes money or creates wealth through its operations, products or services. The term can also refer to the design or structure of a company's management systems, processes, and resources that allow it to operate efficiently and effectively in achieving its goals. In essence, a business model outlines how an organization operates as a whole, including its revenue streams, target markets, distribution channels, cost structures, and core competencies.