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Value chain. The ... Performance. It is important not to mix the concept of the value
chain, with the costs occurring throughout the activities. ...
Value Chain Analysis. ... Before explaining the advantages that a value chain can offer,
it is important to first identify the value chain itself. ...
value chain. The value chain is best understood to be the prospective sources
of a company’s economic advantage within its own industry. ...
The Value Chain Analysis. ... A competitive advantage may be achieved by reconfiguring
the value chain to provide lower cost or better differentiation. ...
value chain analysis. Introduction Value Chain Analysis describes the
activities that take place in a business and relates them to ...
Submitted by boris1125 on August 29, 2007
Category: Book Reports
Words: 611 | Pages: 3
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The value chain, also known as value chain analysis, is a concept from business management that was first described and popularized by Michael Porter in his 1985 best-seller, Competitive Advantage: Creating and Sustaining Superior Performance.
It is important not to mix the concept of the value chain, with the costs occurring throughout the activities. A diamond cutter can be used as an example of the difference. The cutting activity may have a low cost, but the activity adds to much of the value of the end product, since a rough diamond is a lot less valuable than a cut diamond.
The value chain categorizes the generic value-adding activities of an organization. The \"primary activities\" include: inbound logistics, operations (production), outbound logistics, marketing and sales, and services (maintenance). The \"support activities\" include: administrative infrastructure management, human resource management, R&D, and procurement. The costs and value drivers are identified for each value activity. The value chain framework quickly made its way to the forefront of management thought as a powerful analysis tool for strategic planning. Its ultimate goal is to maximize value creation while minimizing costs.
The concept has been extended beyond individual organizations. It can apply to whole supply chains and distribution networks. The delivery of a mix of products and services to the end customer will mobilize different economic factors, each managing its own value chain. The industry wide synchronized interactions of those local value chains create an extended value chain, sometimes global in extent. Porter terms this larger interconnected system of value chains the \"value system.\" A value system includes the value chains of a firm\'s supplier (and their suppliers all the way back), the firm itself, the firm distribution channels, and the firm\'s buyers (and presumably extended to the buyers of their products, and so...
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