12/10/2022
Asharqia Chamber reviews the business model for commercial projects in Khafji
Asharqia Chamber, represented by the Women's Empowerment Center in its branch in Al-Khafji Governorate, organized on Tuesday evening, October 11, 2022, a workshop entitled "The Business Model for Business Projects" presented by the trainer in the field of entrepreneurship, Rana bint Muhammad Al-Maghamis.
Al-Maghamis talked about the importance of the business model as a tool for project analysis and the usefulness of this tool in making development decisions, as it is an essential reason for the success of the company’s work and achieving its goals, as the company relies on it to reach the desired financial and non-financial goals. The business model of any facility does it as a business plan model to make users interested in that facility and repeat its use. It is related to the benefit derived from the proposed solution according to a specific business model associated with the company.
She also referred to what the business model offers as a mechanism of integration between all requirements, as it is the comprehensive component of all parts related to achieving the company's goals, and changing the situation from loss to achieving profits by identifying the customer segment, targeting them and reaching them in the appropriate ways.
Al-Maghamis indicated that the business model includes various factors that guarantee the success of the project if it is carefully formulated according to market requirements and challenges, or vice versa if all aspects are ignored, such as the marketing mix, the mechanism of targeting the customer through price and product analysis, and the study of internal strengths and weaknesses. The project points out that the types of the business model vary according to the projects of investors, pioneers, and entrepreneurs, and the business plan model varies according to the project to keep pace with the project model that has been approved.
