What makes a business model successful? In this book the roots of business models are traced to the concept of the “business idea” which was popularized by researchers in the 1960s and 1970s. The business idea stresses the importance of conformance between the market and the product system, as well as between the product system and the internal features of the firm.A distinguishing feature of the book is how it links elements of business models to key concepts in strategic management research and practice, such as the customer offering, activity systems and strategic resources. It also uses theory and research to explore ways in which the contextual element of business models may be understood and acted upon. One chapter explores the common denominators of good strategies. For example, it is argued that good strategies enable realization of objectives, express choices, and build on strengths.Business Models and Strategy is intended as a “companion in the field” for reflective practitioners and as an integrative text for postgraduate students with a good grasp of strategy.