What does the term business model mean to you?

It has different meanings for different audiences. A franchise advisor quoted "owner operated" as an example of what she means by the term. It has a specific meaning in the startup world and I think businesses would do well to adopt that interpretation. 

I have a few LinkedIn articles on the subject. I plan to write more on the topic till I am able to figure out all the nuances.  Are you familiar with this quote: "We teach best what we most need to learn."   

I'd be thankful for your comments.