The Induced Fit Model describes how enzymes interact with substrates. Unlike the earlier Lock and Key Model, which suggested that enzymes and substrates fit together perfectly, the Induced Fit Model proposes that the enzyme changes shape upon substrate binding. This flexibility allows for a more precise fit, enhancing the enzyme's ability to catalyze reactions. In this model, the active site of the enzyme adjusts to better accommodate the substrate, leading to a more effective interaction. This dynamic process is crucial for the enzyme's function, as it helps lower the activation energy required for biochemical reactions, facilitating various cellular processes.