The Value Chain

The value chain is a way to understand how a business creates value for its customers. It breaks down the process into steps, from designing and sourcing materials, to manufacturing, marketing, and delivering the product or service. Each step adds some value, and the goal is to make these steps efficient and effective. By analyzing the value chain, a company can identify areas where it can improve, reduce costs, or differentiate itself to better serve customers. Ultimately, the value chain helps businesses optimize their operations to deliver better products and services.