“…It could be defined as "an architecture for product, service and information flows", incorporating a description of the sources of revenue, the actors involved, their roles, and the benefits to them (Hayes and Finnegan 2005). Business model is not only a useful tool for explaining how firms work or why they succeed or fail, it can take on a much more important role within, in particular, entrepreneurship research, leading, for example, to a better understanding of the entrepreneurial phenomenon (Glasby, Le Grand et al 2009).…”