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A value chain is a progression of activities that a business or firm performs in order to deliver goods and services of value to an end customer.The concept comes from the field of business management and was first described by Michael Porter in his 1985 best-seller, Competitive Advantage: Creating and Sustaining Superior Performance.
In 1964, the association changed its name to the American Society for Training & Development. ASTD eventually widened its focus to connect learning and performance with business results. In 2000, the organization chose to refer to itself just by the letters ASTD, to underscore that it wanted to broaden its scope as a professional organization.
In probability theory, a transition-rate matrix (also known as a Q-matrix, [1] intensity matrix, [2] or infinitesimal generator matrix [3]) is an array of numbers describing the instantaneous rate at which a continuous-time Markov chain transitions between states.