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.
According to Cost Accounting by Horngren, Datar, Rajan (14th edition),
- Value chain. The sequence of business functions in which customer usefulness is added to products or services of a company.
According to the Corporate Strategy by Lynch (4th edition),
- Value chain. This identifies where the value is added in an organization and links the process with the main functional parts of the organization. It is used for developing competitive advantage because such chains tend to be unique to an organization.
