1.1 Traditional approaches to business
The traditional approach to a business could be represented in this way:
McKinsey’s value delivery system offers an alternative, but still quite traditional, view of business, as shown in Figure 2.
In both systems, the assumption is that as you move along from left to right, there are opportunities to create value.
Next you will look at what has become a very popular model of describing the essential features of a business, the business model canvas.