What are the Functions of a Business Concept?

[Suba]

A business concept refers to various concrete ideas that contain the main components of core strategy, strategic resources, network value and customer intermediaries. So the business concept is also a direction for business people to stay focused on goals and target markets. However, in running a business, entrepreneurs will always encounter various problems, both minor problems and serious problems that arise unexpectedly and outside the plan. Here are some functions of a business concept such as:
1. Making more detailed and clear business plans and strategies
2. Business will be more focused in achieving goals
3. Increasing business and brand credibility.

 

[Starmix]

Business concepts must also be put into action. It's like a theory, when there's no application, the theory will be useless, the same way in business' concepts. If one of your conceptd is advertising your products makes your business boosts sales, then do it.

 

[Augusta]

it is for businesses to have human resources, finance, marketing, sales, and strategy. These are universal functions, which means that they are necessary for the success of any business.