Fundamentals of Management (10th Edition)
Fundamentals of Management (10th Edition)
10th Edition
ISBN: 9780134237473
Author: Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher: PEARSON
Question
Book Icon
Chapter 15, Problem 5DQ
Summary Introduction

To determine:

What is a value chain, value chain management and the goal of value chain management?

Introduction:

Value chain is the chain of processes in the production system that increases the worth of an end product. It includes processes which will add value and improve the results or usefulness of the product. It was developed by Michael Porter in 1985.

Value chain management involves examining every step in the manufacturing process so that best products can be developed at lowest costs. It is an analysis tool which is used for integration and collaboration of value chain components and resources.

The goal of value chain management is to give customers the products required or needed by them at the lowest prices. Also, that everyone on the chain benefits from value chain management.

Blurred answer
Knowledge Booster
Background pattern image
Recommended textbooks for you
Text book image
Understanding Business
Management
ISBN:9781259929434
Author:William Nickels
Publisher:McGraw-Hill Education
Text book image
Management (14th Edition)
Management
ISBN:9780134527604
Author:Stephen P. Robbins, Mary A. Coulter
Publisher:PEARSON
Text book image
Spreadsheet Modeling & Decision Analysis: A Pract...
Management
ISBN:9781305947412
Author:Cliff Ragsdale
Publisher:Cengage Learning
Text book image
Management Information Systems: Managing The Digi...
Management
ISBN:9780135191798
Author:Kenneth C. Laudon, Jane P. Laudon
Publisher:PEARSON
Text book image
Business Essentials (12th Edition) (What's New in...
Management
ISBN:9780134728391
Author:Ronald J. Ebert, Ricky W. Griffin
Publisher:PEARSON
Text book image
Fundamentals of Management (10th Edition)
Management
ISBN:9780134237473
Author:Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:PEARSON