BusinessModeling does not appear to be within the portfolio of StrategicManagement in many companies, even though all companies have a "Business Model" they rely on, for their continued existence.
One exception seem to be the Finance sector. In the world of Wall Street high finances, lots of physicists are engaged in FinancialModeling.
Many of us would readily concur with the AllAbstractionsLie statement, but to dismiss the utility of something that is obviously flawed can be worse. It is like dismissing weather reports altogether because they are often wrong.
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The real question is ..., and how useful is it regardless of its validity