The Value Of A Value Chain Essay - 1217 Words

A value chain may defined as network of companies which work hand in hand towards a common goal of meeting the customer demands and the stakeholder demands. The idea of value chain first came into existence after Michael Porter coined it. He basically said that the various activities which the organisations carry out to create and give value to its customers. He said that it basically consists of two main activities which are basically known as the primary activities and secondary activities. The events which take place in converting the inputs to outputs followed up by the delivery and after sales support are known as the primary activities which may include inbound logistics, operations, and outbound logistics, marketing, service. The support activities generally support the primary activities which are handled by the organisations staffs. The support activities involves procurement, technology development, human resource development, firm infrastructure. For example value can be c reated when a manufacture converts a raw material into a finished product or when a retail stores outlet provide the goods in a way which is convenient to the customers, sometimes supported by a fitting room or personal shopping advise. (Accountants, San Miguel, Canada, Systems, 1996). Value chain analysis The value chain analysis can be basically defined as the various activities which happens in and around the organisation. They also relates them to the analysis of the competitive strengthShow MoreRelatedThe Value Of A Value Chain1251 Words   |  6 PagesBusinesses create value by converting inputs (that is raw material, labor and overhead) into business outputs in such a way that they have a greater value than the original input cost. Manufacturing companies create value by acquiring raw materials and using them to produce something useful. Retailers bring together a range of products and present them in a way that is convenient to customers, sometimes supported by services such as fitting rooms or personal shopper advice. And insurance companiesRead MoreThe Value Of Value Chain1803 Words   |  8 Pages Value chain is identified as a chain of activities where value is continuously added to the product and service from the product design to final product delivery. Basically, there are many works that are included in the producing process no matter whether it is consume good or service. But not all of the producing activities could be seen as valuable to the entire process, which could offset the cost of time, money, and labor. So when companies are doing the business optimization, the basic thingsRead MoreValue Chain964 Words   |  4 PagesReport on Real Estate Industry Chain and Value Chain Activities Within C alloway Introduction The purpose of the report is to conduct a value chain analysis of Calloway and its industry in order to get a better assessment of the organization’s key functions in terms of satisfying the needs of the tenants and ultimately the shoppers. To end of this report, we will provide a situational analysis and recommendations to improve Calloway’s ability meet its tenants’ and shoppers’ needsRead MoreValue Chain1020 Words   |  5 PagesExecutive Summary Value chain management has become more and more important in industry in past decades. This report provides an insight view of value chain in automotive industry and then examine leadership role of engineer in value chain management. Furthermore, the report will analyse why engineer is so important in management of value chain. 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To sustain the business in day today environment, companies focuses on business process and value chain to establish their evaluations about the performance. This paper creates a better understanding of Hewlett-Packard’s value chain and its value proposition. A successful organization like Hewlett-Packard maximizes it public value through value creation, reduced total cost, improvised business performances, customer satisfaction and increased interoperability. HP’sRead MoreValue Chain And Supply Chain Essay2316 Words   |  10 Pagestheir competitors or at least in step with them. This is where value chain comes in. Value chain deals with adding value to your product so that the company might gain a competitive edge over their rivals. There is always has been a bit of a confusion between value chain and supply chain. Many people get confused between the two. Value chain and supply chain are similar but not quite the same. Value chain refers to the process of adding value to an article or product which includes production, marketingRead MoreDells Value Chain1517 Words   |  7 PagesThe value chain was a concept initially proposed by McKinsey and later developed and made public by Harvard strategy guru Michael Porter. According to Porter, the value chain is defined as the complete flow of products from the suppliers to the customers and management of the information flow in a way that maximizes the consumer satisfaction with the increase in the profit margins of the company. Simply, it includes a series of value-adding activities connecting a company s supply side (raw materials