This means that whatever the company is offering must be clearly communicated through the business concept. On the other hand, the target market should also be mentioned in this concept. This market will be the segment that the business is looking to serve.

Finally, the company’s overall competitive advantage should conclude the statement, to describe how this proposal differs from what already exists. Business concepts are employed regularly in the business world, most commonly to present new business ideas to potential investors and also as institutional information displayed to the public to transmit the essential qualities and elements behind a given business.

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