List down the value chain of a product/business that you see an interest or opportunity for your future.
Answers
Answer:
A value chain is a business model that describes the full range of activities needed to create a product or service. For companies that produce goods, a value chain comprises the steps that involve bringing a product from conception to distribution, and everything in between—such as procuring raw materials, manufacturing functions, and marketing activities.
A company conducts a value-chain analysis by evaluating the detailed procedures involved in each step of its business. 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.
Explanation:
KEY TAKEAWAYS
A value chain is a step-by-step business model for transforming a product or service from idea to reality.
Value chains help increase a business's efficiency so the business can deliver the most value for the least possible cost.
The end goal of a value chain is to create a competitive advantage for a company by increasing productivity while keeping costs reasonable.
The value-chain theory analyzes a firm's five primary activities and four support activities.
Understanding Value Chains
The Value Chain Of Products
Explanation:
- So we can say that where I think the value chain takes a few more things into consideration, research and development, and advertising.
- It is very important to understand that where I think one of the goals of value chain analysis is to ensure the product is placed in the customers' hands as seamlessly as possible.
- So we can say that where I think the final result of a value chain analysis should be a more competitive, efficient business.
- So we can say that where I think value chain analysis can help companies in various ways.
- So we can say that where I think it can create change within a business, the products and services it offers, and its connections with other businesses and their customers or clients.