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Sep 1, 2021 · Given the importance of the value chain, Michael Porter developed a strategic management tool for analyzing a company’s value chain. Porter, known for Porter’s five forces, laid out his...
Porter’s Value Chain Model. Step 1: Understand the Value Chain: Step 2: Identify Primary and Support Activities: Step 3: Analyze Each Activity: Step 4: Identify Areas of Competitive Advantage and Opportunities for Improvement: Step 5: Identify Cost Drivers: Step 6: Develop Strategies:
Understanding how your company creates value, and looking for ways to add more value, are critical elements in developing a competitive strategy. Michael Porter discussed this in his influential 1985 book "Competitive Advantage," in which he first introduced the concept of the value chain.
Oct 24, 2023 · The value chain also known as Porter’s Value Chain Analysis is a business management concept that was developed by Michael Porter. In his book Competitive Advantage (1985), Michael Porter explains that a value chain is a collection of activities that are performed by a company to create value for its customers.
Dec 3, 2020 · The concept was conceived by Harvard Business School Professor Michael Porter in his book The Competitive Advantage: Creating and Sustaining Superior Performance. Taking stock of the processes that comprise your company’s value chain can help you gain insight into what goes into each of its transactions.
