How important value chain model for running a restaurant? Explain all
functions of value chain model to answer above question.
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A value chain is a business model that describes the full range of activities needed to create a product or service. ... The purpose of a value-chain analysis is to increase production efficiency so that a company can deliver maximum value for the least possible cost.Porter's value chain involves five primary activities: inbound logistics, operations, outbound logistics, marketing and sales, and service. Support activities are illustrated in a vertical column over all of the primary activities. These are procurement, human resources, technology development, and firm infrastructure.
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