What is the importance of a business model? What role should the business model play as the firm grows and improves its processes? When should a firm stick with its business model and when should the firm adapt its model?

I’m trying to study for my Health & Medical course and I need some help to understand this question.

 

Respond to the following in a minimum of 175 words:

What is the importance of a business model? What role should the business model play as the firm grows and improves its processes? When should a firm stick with its business model and when should the firm adapt its model?