Value Chain Explained || Strategic Management Series

Value chain is the chain of activities that is responsible for creating value for the end customers.

I discuss Michael Porter's Value chain in this video.

There are primary activities and support activities in the value chain.

Every single firms has to have the primary activities to create the values for the end customers. the primary activities are - Inbound Logistics, Operations, Outbound Logistics, Marketing & Sales and Service.
The support activities can improve the overall primary activities. They are firm infrastructure, Human Resource Management, Technological advancements, and procurement. A firm can go on without having the support activities, but having them will help the firm in order to create much better values to the end consumers.



Textbook links, If you want to learn more about the entire subject [Affiliate - If you buy from this link, I will get a small commission]

Strategic Management - https://amzn.to/3dPj9QP

Strategic Management Theory - https://amzn.to/3o92lsG

Zero To One (Not a Textbook, but business students will learn a lot from this small book) - https://amzn.to/2TcE1Il


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