What does a business model outline?

A business model outlines how an organization creates, delivers, and captures value. This encompasses the fundamental aspects of how a company operates, including its value proposition, which details what makes its products or services appealing to customers. It also explains the mechanisms through which the organization delivers its offerings – the distribution channels, customer relationships, and revenue streams that it utilizes.

By articulating the entire process of value creation and delivery, a business model provides a comprehensive framework for understanding how a business functions and succeeds in its marketplace. The focus is on the core strategy that drives the business's operations and ensures its sustainability and profitability.

The other choices, while relevant to various business practices, do not encompass the full scope of a business model. Minimizing costs and marketing products are part of operational strategies but do not capture the holistic view of value generation and delivery. Expanding into international markets is also a specific growth strategy that does not define how a business operates at its core. Therefore, the selected answer accurately reflects the essential function of a business model.