hybrid (adjective, hy-brid, \ ˈhaɪbrɪd \) business (noun, busi-ness, \ ˈbɪznəs \)
Definition: is a type of traditional business company that conducts its operations by combining an internet retail outlet with a brick and mortar warehouse or an order completion service. This means that a company finds the majority of its clients online, but is selling physical goods that need to be stored in a building. A hybrid business model is an extremely effective organization structure, but it shouldn’t be adopted without proper planning and the development of a detailed business strategy.
In a Sentence:
- When faced with the danger of being overshadowed by e-books, Weller Publishing switched to a hybrid business model. Now, you can buy their books both in their brick and mortar store and on their website.
- Tyler didn’t listen to my advice and decided to switch to a hybrid business type of organization. Why would a simple farmer need an online store for, I have no idea.
Synonyms and related words: business model, hybrid organization, hybrid market, legacy business model
