Strategic Development

Strategic Development

Abstract

Value chains are activities that a firm does to deliver a service or product for market. Businesses buy products then sell them to clients willing to sell them or do a service out of them.  As such, this creates a value system of customers and suppliers in an industry ecosystem.  Every activity in the value chain has its own needs and preferences to shape products and the products that the final customer gets.  Industry value chain looks at how the whole system works and creates a competitive advantage for the organisation to get higher profits (Gereffi & Fernandez-Stark, 2016).

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