Three Dimensional Business Model

Professor Derek Abel's model defines a business using a three-part approach: understanding customer needs, identifying customer segments, and determining how to deliver value. This model emphasizes the importance of customer needs, market segmentation, and the processes required to meet these needs, focusing on how value is delivered through technology and other efforts.

What is the primary focus of the three-dimensional business model proposed by Professor Derek Abel?

How does the model define a business in terms of customer needs?

What are the key components that need to be identified about the customer according to the model?

What processes and efforts are required to meet customer needs as per the model?

In what way does the model emphasize the delivery of value to customers?