COMPETING THROUGH BUSINESS MODELS Ramon Casadesus-Masanell Joan e ricart Abstract In this article a business model is defined as a companys choice of policies and assets, governance structure of those policies and assets, and their consequences, whether flexible rigid. We also provide a way to represent such business models to highlight dynamic loops and to facilitate an understanding of the interaction with other business models. Furthermore, we develop some tests to evaluate the business model both in isolation as well as in interaction with other business models from different organizations, such as competitors, complementary organizations, suppliers, partners, and others Professor, General Management, Harvard Business School Professor, General Management, IESE Keywords: Business model, Interaction, Competitive Strategy, Competitive DynamicsIESE Business School-University of Navarra COMPETING THROUGH BUSINESS MODELS Ramon Casadesus-Masanell1 Joan E. Ricart2 Abstract In this article a business model is defined as a company’s choice of policies and assets, the governance structure of those policies and assets, and their consequences, whether flexible or rigid. We also provide a way to represent such business models to highlight dynamic loops and to facilitate an understanding of the interaction with other business models. Furthermore, we develop some tests to evaluate the business model both in isolation as well as in interaction with other business models from different organizations, such as competitors, complementary organizations, suppliers, partners, and others. 1 Professor, General Management, Harvard Business School 2 Professor, General Management, IESE Keywords: Business model, Interaction, Competitive Strategy, Competitive Dynamics