Value chain

A value chain is the entire series of organizational work activities that add value to each step from raw materials to finished product.

Definitions

According to Management by Robbins and Coulter (14th edition),

Value chain. The entire series of organizational work activities that add value to each step from raw materials to finished product.

According to Marketing Management by Keller and Kotler (15th edition),

Value chain. A tool for identifying ways to create more customer value.

According to Managing Quality by Foster (6th edition),

Value chain. A concept developed by Michael Porter that decomposes a firm into its core activities.