Value Chain Explained || Strategic Management Series

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Value chain is the chain of activities that is responsible for creating value for the end customers.

I discuss Michael Porter's Value chain in this video.

There are primary activities and support activities in the value chain.

Every single firms has to have the primary activities to create the values for the end customers. the primary activities are - Inbound Logistics, Operations, Outbound Logistics, Marketing & Sales and Service.
The support activities can improve the overall primary activities. They are firm infrastructure, Human Resource Management, Technological advancements, and procurement. A firm can go on without having the support activities, but having them will help the firm in order to create much better values to the end consumers.

Textbook links, If you want to learn more about the entire subject [Affiliate - If you buy from this link, I will get a small commission]

Strategic Management - https://amzn.to/3dPj9QP

Strategic Management Theory - https://amzn.to/3o92lsG

Zero To One (Not a Textbook, but business students will learn a lot from this small book) - https://amzn.to/2TcE1Il

Other Videos in the Strategic Management Series:

Functional Level Strategies: https://youtu.be/LbbOwkCGOjg

Business Level Strategies: https://youtu.be/3sR0Q1vdywQ

Corporate Level Strategies: https://youtu.be/YccI8jdu7lU

Levels of Strategies In Strategic Management Explained:
https://youtu.be/xlx7CNIqGWo

Distinctive competency and competitive advantage: https://youtu.be/lVliXHscaOM

Levels of Strategies In Strategic Management Explained:
https://youtu.be/xlx7CNIqGWo

Icarus Paradox: https://youtu.be/hY9THhsIXBc

Technology Adoption Life Cycle : https://youtu.be/zfoYi28Vi4A

What is chasm and how to cross the chasm: https://youtu.be/PTcOrihnC_Q

Industry Life Cycle: https://youtu.be/XqPvQtSeTNY

Strategies in Matured Industries: https://youtu.be/3pBjRtrkjS0

Strategies in Declining Industries: https://youtu.be/xQHJRuf1DHs

Some of my best and biggest videos are on the way; Subscribe here to get notified when I upload: bit.ly/FstStudy

YouTube url:	https://youtu.be/l4Q6X-7r_DY
Created:	27. 2. 2022 11:13:22

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Value Chain Explained || Strategic Management Series