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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.
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.
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.
In 1990s the concept of value chain gained its credit among economists and business scholars. (Its prominent developer Michael Porter). The concept combined sequenced and interconnected activities in the process of value creation. Value chain concept focused on business activities, but not on the corporate power and institutional context.
Analysing the firm's activities as a linked chain is a tried and tested way of revealing value creation opportunities. The business economist Michael Porter of Harvard Business School pioneered a value chain approach: "the value chain disaggregates the firm into its strategically relevant activities in order to understand the costs and existing potential sources of differentiation". [3]
The accordions hummed and the guitars skipped and the basses thumped. It was a concerted effort to promote and preserve conjunto music for Degollado, the Montopolis native and arguably one of ...
Due to the strategic importance of supply-chain management, forward-looking control requirements must be taken into account. Because of the complexity of a supply chain, a focus on interface management is necessary. In the literature, several tasks and functions are defined. Management accounting in supply chains has the following features ...
Demand-chain management (DCM) is the management of relationships between suppliers and customers to deliver the best value to the customer at the least cost to the demand chain as a whole. Demand-chain management is similar to supply-chain management but with special regard to the customers. [2] Demand-chain-management software tools bridge the ...