The basic logic that determines how an institution goes about its business is determined by its business model. It is the basis of the strategy of an institution. The business model is made up of three key components: It describes the value that is created for customers or other partners. Secondly it describes the value-chain, and with it the architecture of the value creation process – i.e. how and where the value is being created (e.g. which form of cooperation with which partners etc.). Thirdly, the business mission illustrates the flow of products, money and information within an institution.

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