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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.
Michael Porter's generic strategies describe how a company can pursue competitive advantage across its chosen market scope. There are three generic strategies: lower cost, product differentiation, or focus. The focus strategy has two variants, cost focus and differentiation focus, so it is possible to see the concept in terms of four distinct ...
Porter introduced the concept of value chain analysis in his 1985 book, Competitive Advantage: Creating and Sustaining Superior Performance. The value chain comprises each of the activities, from design through distribution, that a company performs to produce a product; these activities are viewed as the “basic units of competitive advantage".
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A sign that reads "Starbucks Made of Tianchi Lake Water" is displayed outside a Starbucks store in Changbai Mountain scenic area in Yanbian city, Northeast China's Jilin province, July 16, 2024.
Strategy consultants occasionally use Porter's five forces framework when making a qualitative evaluation of a firm's strategic position. However, for most consultants, the framework is only a starting point and value chain analysis or another type of analysis may be used in conjunction with this model. [13]
Former Starbucks CEO Howard Schultz weighed in Sunday on the coffee chain’s dismal latest quarterly report, saying he believes the company will recover if it improves its U.S. stores ...
It works to integrate much of Porter's previous work in his competitive five forces theory, his value chain framework as well as his theory of competitive advantage into a consolidated framework that looks at the sources of competitive advantage sourcable from the national context. It can be used both to analyze a firm's ability to function in ...