ENGLISH FOR

BUSINESS
March, 2023

Mg. Diana Feria Angeles

 UNIT 1

Business model and entrepreneurship

BUSINESS MODEL CONCEPT AND TYPES - THE ENTREPRENEURIAL MINDSET

PREVIOUS KNOWLEDGE

Vocabulary time!

https://wordwall.net/resource/30831516
BUSINESS MODEL CONCEPT AND TYPES - THE ENTREPRENEURIAL MINDSET

PREVIOUS KNOWLEDGE

Vocabulary time! (Answers)

Lesson 2
Objective: Al final de la sesión, los
estudiantes serán capaces de
entender los conceptos básicos de
modelo de negocio y la mentalidad
empresarial, identifican los diferentes
tipos de modelo de negocio a través
de casuística y aplicación de
ejemplos de empresas con sus
modelos de negocio y empresas de
su entorno laboral.
AGENDA

1- Introduction : What is a business model? - definitions and application

2.- Business models types - examples

3.- The entrepreneurial mindset

4.- Group activity.

5.- Metacognitive questions

6.- End of session

BUSINESS MODEL CONCEPT AND TYPES - THE ENTREPRENEURIAL MINDSET
Business plan definition

WHAT IS A BUSINESS MODEL ?

BUSINESS MODEL CONCEPT AND TYPES - THE ENTREPRENEURIAL MINDSET
Business plan definition

★
“Business model is a framework for making money. It is the set of activities which a firm
performs, how it performs them and when it performs them so as to offer its customers
benefits they want and to earn a profit. (Afuah, 2003)”.

★ “Business model defines how a company provide value to customer and transfer payments to
profit (Teece, 2010)”.

★ “The business model is a useful framework to link ideas and technologies to economic
outcomes (Chesbrough, 2006)”.
BUSINESS MODEL CONCEPT AND TYPES - THE ENTREPRENEURIAL MINDSET
Business models types

TYPES OF BUSINESS MODELS

Different authors describe more than 30 or 40 types of business models; however, we discuss the most
common. They are the following:

❖ Franchise model ❖ Subscription business model

❖ Direct sales business model ❖ Retail business model

❖ E-commerce business model ❖ Manufacturing business model

BUSINESS MODEL CONCEPT AND TYPES - THE ENTREPRENEURIAL MINDSET
Business models types

TYPES OF BUSINESS MODELS

Let’s see the concepts!

❖ Franchise model: franchise is a right to sell a company’s products in a

particular area using the company’s name. It pays royalties to the
main company.

❖ Direct sales business model: people offer products or services to

generate revenue through a team of salespeople who sell directly to
customers; then, salespeople get a share of every sale.

❖ E-commerce business model: also called electronic commerce, lets

firms and individuals buy and sell things through Internet.
BUSINESS MODEL CONCEPT AND TYPES - THE ENTREPRENEURIAL MINDSET
Business models types

TYPES OF BUSINESS MODELS

Let’s see the concepts!

❖ Retail business model: a retailer is a person or business that sells goods

to the public.

❖ Manufacturing business model: is the business of producing goods in

large quantities in a factory.

❖ Subscription business model: a subscription is an agreement to pay

regularly to receive a product or service or to be a member of an
organization.
BUSINESS MODEL CONCEPT AND TYPES - THE ENTREPRENEURIAL MINDSET

The entrepreneurial mindset

The entreprenurial mindset

• The entrepreneurial mindset is a way of
thinking that makes people able to adjust
human behavior towards opportunities and
outcomes.

According to Meyers (2019):

The entrepreneurial mindset is a state of
mind interested in the pursuit of opportunity
with scarce, uncontrolled resources. The
goal is to create user defined value at
various multiples of the existing
competitive offering through the
deployment of innovation.
BUSINESS MODEL CONCEPT AND TYPES - THE ENTREPRENEURIAL MINDSET
The entrepreneurial mindset

Characteristics of the entrepreneurial mindset:

• They try to do
• They look for something with
new discipline. They
opportunities. work towards a
goal.

Retrieved from: https://www.grupodigital.eu/blog/the-happiness-door/

BUSINESS MODEL CONCEPT AND TYPES - THE ENTREPRENEURIAL MINDSET
What type of business model is it?

Group activity

Find in groups what

business model applies in
each example
https://wordwall.net/resource/30847966
BUSINESS MODEL CONCEPT AND TYPES - THE ENTREPRENEURIAL MINDSET

Metacognitive questions

Metacognitive questions

https://create.kahoot.it/details/3760fe2b-
3067-4f94-a8a3-8fa85f4bc3dd
BUSINESS MODEL CONCEPT AND TYPES - THE ENTREPRENEURIAL MINDSET

Metacognitive questions

Metacognitive questions
BUSINESS MODEL CONCEPT AND TYPES - THE ENTREPRENEURIAL MINDSET

Metacognitive questions

Metacognitive questions
BUSINESS MODEL CONCEPT AND TYPES - THE ENTREPRENEURIAL MINDSET

Conclussions

Conclussions
• A business model is a framework to understand how the
enterprise delivers value to customers.
• There are many types of business models: direct sales (e.g.
Herbalife), e-commerce (e.g. Linio), subscription (e.g. Netflix),
retailer (e.g. Promart), franchise (e.g. KFC) and manufacturing
(e.g. Nestle).

• An entrepreneurial mindset is a set of beliefs, knowledge and

thoughts that enable people to identify opportunities, learn from
setbacks and accept responsibility for your outcomes in
different settings.
BUSINESS MODEL CONCEPT AND TYPES - THE ENTREPRENEURIAL MINDSET

Metacognitive questions

QUESTIONS?
 Lesson 2
Objective: Al final de la sesión, los
estudiantes serán capaces de
entender los conceptos básicos de
modelo de negocio y la mentalidad
empresarial, identifican los diferentes
tipos de modelo de negocio a través
de casuística y aplicación de ejemplos
de empresas con sus modelos de
negocio y empresas de su entorno
laboral.
 Next week topic
Design Thinking Tools: Thinking hats, Design thinking

RECORDATORIO DE ESTA
SEMANA:
CUESTIONARIO 01
GRUPOS DE TRABAJO
THANK YOU!