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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.
A value shop is an organization designed to solve customer or client problems, rather than creating value by producing output from an input of raw materials. The principles of value shops were first conceptualized by Thompson in 1967, and properly defined by Charles B. Stabell and Øystein D. Fjeldstad of the Norwegian School of Management in 1998, who also created the name.
It highlights the organizational streamlining and geographical consolidation of GVCs, and the evolving patterns of strategic coordination among value chain participants. With the escalation of South-South trade, the emergence of new end markets, and the swift adoption of the GVC framework by international organizations, national development ...
Fjeldstad and Stabell define a value network as one of three ways by which an organisation generates value. [3] The others are the value shop and value chain. Their value networks consist of the following components: customers, a service that enables interaction among them, an organization to provide the service, and
Before designing a distribution system, the supplier needs to determine what distribution channel to achieve in broad terms. The approach to distributing products or services depends on a number of factors including the type of product, especially perishability; the market served; the geographic scope of operations and the firm's overall mission and vision.
Global value chains are a network of production and trade across countries. The study of global value chains requires inevitably a trade theory that can treat input trade. However, mainstream trade theories (Heckshcer-Ohlin-Samuelson model and New trade theory and New new trade theory) are only concerned with final goods.
Value chain management capability refers to an organisation's capacity to manage the internationally dispersed activities and partners that are part of its value chain. [ citation needed ] It is found to consist of an international orientation, network capability, market orientation, technological capability and teamwork management capability.
A value stream is the set of actions that take place to add value to a customer from the initial request through realization of value by the customer. The value stream begins with the initial concept, moves through various stages of development and on through delivery and support. A value stream always begins and ends with a customer.