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:    • Functional Level Strategies Explained...  

Business Level Strategies:    • Business Level Strategies Explained W...  

Corporate Level Strategies:    • Corporate Level Strategies Explained ...  

Levels of Strategies In Strategic Management Explained:
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Distinctive competency and competitive advantage:    • Distinctive Competency Vs  Competitiv...  

Levels of Strategies In Strategic Management Explained:
   • Levels of Strategies In Strategic Man...  

Icarus Paradox:    • Icarus Paradox || Strategic Management  

Technology Adoption Life Cycle :    • Technology Adoption Life Cycle || Str...  

What is chasm and how to cross the chasm:    • What is Chasm and How To Cross the Ch...  

Industry Life Cycle:    • Industry Life Cycle || Strategic Mana...  

Strategies in Matured Industries:    • Strategies in Matured Industries || S...  

Strategies in Declining Industries:    • Strategies in Declining Industries ||...  

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