Whois & Analysis for sift.com

A business model is an "abstract representation of a business, be it conceptual, textual, and/or graphical, of all core interrelated architectural, co-operational, and financial arrangements designed and developed by an organization presently and in the future, as well as all core products and/or services the organization offers, or will offer, based on these arrangements that are needed to achieve its strategic goals and objectives." This definition by Al-Debei, El-Haddadeh and Avison (2008) indicates that value proposition, value architecture (the organizational infrastructure and technological architecture that allows the movement of products, services, and information), value finance (modeling information related to total cost of ownership, pricing methods, and revenue structure), and value network articulate the primary constructs or dimensions of business models.

In law, fraud is deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.

Fraud itself can be a civil wrong (i.e., a fraud victim may sue the fraud perpetrator to avoid the fraud and/or recover monetary compensation), a criminal wrong (i.e., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities) or it may cause no loss of money, property or legal right but still be an element of another civil or criminal wrong.

The purpose of fraud may be monetary gain or other benefits, such as obtaining a driver's license or qualifying for a mortgage by way of false statements.

Risk is the potential of gaining or losing something of value.

Values (such as physical health, social status, emotional well-being or financial wealth) can be gained or lost when taking risk resulting from a given action or inaction, foreseen or unforeseen.

Risk can also be defined as the intentional interaction with uncertainty.

Uncertainty is a potential, unpredictable, and uncontrollable outcome; risk is a consequence of action taken in spite of uncertainty.

Innovation can be defined simply as a "new idea, device or method".

However, innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs.

This is accomplished through more-effective products, processes, services, technologies, or business models that are readily available to markets, governments and society.

The term "innovation" can be defined as something original and more effective and, as a consequence, new, that "breaks into" the market or society.

It is related to, but not the same as, invention.

Innovation is often manifested via the engineering process.

The opposite of innovation is exnovation.

In marketing, a product is anything that can be offered to a market that might satisfy a want or need.

In retailing, products are called merchandise.

In manufacturing, products are bought as raw materials and sold as finished goods.

A service is another common product type.