Explain the value chain and highlight its importance. Identify its components and explain how they work. Answer the following questions: Discusses and defines the logistics of the value chain. Mention the two parts into which it is divided and how they differ. Highlights its importance. Explains how the support activities of the value chain contribute to achieving good results in the operations of a business.
Explain the value chain and highlight its importance. Identify its components and explain how they work.
Answer the following questions:
Discusses and defines the logistics of the value chain. Mention the two parts into which it is divided and how they differ. Highlights its importance.
Explains how the support activities of the value chain contribute to achieving good results in the operations of a business.
The value chain is a concept introduced by Michael Porter in 1985 to describe the various activities a company undertakes to create and deliver a product or service to its customers. It is a crucial framework for understanding how a company can create and sustain a competitive advantage in the market. The value chain consists of two main parts: primary activities and support activities.
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