In the last 2 chapters of the Business Model Generation (Osterwalder and Pigneur) book, the authors describe and analyze the strategy and process for developing successful business models. After carefully reading and understanding these chapters, answer these research questions:
RQ1 What role should external factors of demand play in successful business models? NOTE: first fully define the role and then analyze or discuss.
RQ2 What is“Business Model Design and Innovation”? Please provide examples and discussion for each factor listed).
RQ3 What are the challenges to “Business Model Design and Innovation?