According to the Financial Times, a business model is used by companies to explain and describe the method they use to create and capture value. A business model may focus on many different aspects of a company, For example how the organization makes, distributes, prices or advertises its products. 

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In the book 'Groot Innovatie Modellenboek', Frank Kwakmann and Ruud Smeulders explain that in current times it's necessary to innovate your business activities. This because of the increasing amount of competitors on the market that create the necessity to obtain a competitive advantage. In order to obtain and maintain this advantage, the companies have to adopt to the demands of the consumer.