Resources and capabilities - Diagnosing resources and capabilities - The value chain and value system
5 important questions on Resources and capabilities - Diagnosing resources and capabilities - The value chain and value system
Explain the value chain and the value system.
- The value chain describes the categories of activities within an organisation which, together create a product or service.
- The value system is the set of inter-organisational links and relationships that are necessary to create a product or service.
What are the 2 main parts of the value chain?
- Primary activities. Directly concerned with the creation and delivery of a product or service. E.g. for a manufacturing business:
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service - Support activities. Each of the primary activities is linked to support activities that help to improve the effectiveness of primary activities. E.g.
- Purchasing
- Technology development
- HR management
- Infrastructure
In what three ways can resources and capabilities be analyzed with use of the value chain?
- As a generic description of activities.
- Analyzing the competitive position of the organisation using VRIO.
- To analyze the cost and value of activities of an organization.
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What are the steps in analyzing the cost and value of activities of an organization?
- Identifying sets of value activities
- Relative importance of activity costs internally
- Relative importance of activity costs externally
- Where and how can costs be reduced?
What questions arise that build an understanding of the value chain itself?
- 'Make or buy' or outsource decision
- What are the activities and cost/price structures of the value system?
- Where are the profit pools? (=different levels of profit available at different parts of the value system)
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