“Open business models, like the name suggests are business models that are open to change. They invite new ideas and concepts and continue to grow all the time. All companies wish to keep their internal information within themselves. But some companies decide to involve their employees, suppliers as well as customers to participate in deciding how the business takes place. This business model is a new trend and is working well for many companies.
These days when the market fluctuates more than ever before, it is a good idea to keep changing with the demands of time. Many businesses have suffered losses because their business model became outdated for the current scenario. Numerous businesses still are. It is not only about switching to a new technology but much more. It is how you go about doing your business.