9,99 €
Mehr erfahren.
- Herausgeber: 50Minutes.com
- Kategorie: Fachliteratur
- Serie: Management & Marketing
- Sprache: Englisch
Understand Michael Porter’s value chain in no time! Find out everything you need to know about this valuable business tool with this practical and accessible guide.
The Harvard Business School professor Michael E. Porter has dedicated much of his career to studying competitive advantage. One of his best-known concepts is the value chain, which is used to deliver a product or service to the market and has three key objectives: to improve services, to reduce costs and to create value. The model can be applied to virtually any business in any sector, making it a vital tool for companies looking to make the most of their competitive advantage in an increasingly crowded market.
In 50 minutes you will be able to:
•Identify the nine functions that generate value within a business
•Analyse your company’s activity to make the most of your competitive advantage
•Find areas for improvement and take concrete steps to maximise performance
ABOUT 50MINUTES.COM | MANAGEMENT AND MARKETING
The Management and Marketing series from the 50Minutes collection provides the tools to quickly understand the main theories and concepts that shape the economic world of today. Our publications will give you elements of theory, definitions of key terms and case studies in a clear and easily digestible format, making them the ideal starting point for readers looking to develop their skills and expertise.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 22
Veröffentlichungsjahr: 2015
Ähnliche
MICHAEL PORTER’S VALUE CHAIN
KEY INFORMATION
Names: value chain, Michael Porter’s value chain.Uses: improving competitiveness, reducing costs, increasing value creation.Why is it successful? It can be adapted to all types of business, drastically boosts performance and comprises a series of clear, well-defined steps.Key words: competitive advantage, value creation, analytical tool, subdivision of activities.INTRODUCTION
History
The Harvard Business School professor Michael E. Porter (born in 1947) is known for his work on competitive strategy, competitiveness and the economic development of nations, states and regions.
In the 1980s, he began looking into the concept of competitive advantage and developed a number of strategic theories in the book Competitive Advantage: Creating and Sustaining Superior Performance (1985). Many of these theories were quickly adopted by businesses looking to improve their results.
According to him, companies achieve superiority through their mastery of competitive forces, known as “Porter’s five forces”. This is a key concept in modern management, and was explored by Porter in Competitive Strategy: Techniques for Analyzing Industries and Competitors (1980; republished with a new introduction in 1998).
Definition of the model
A value chain is a series of actions which are carried out in order to deliver a valuable product or service to the market.
Any company, association or organisation that creates value and wants to improve its competitiveness can use the value chain to achieve its goals. The model allows businesses to analyse each of their activities in order to improve each step as much as possible, in this way maximising their competitive advantage. The value chain is a valuable tool in strategic management, as it works on the positioning of a product or service on the market.
The value chain has three main objectives:
improve servicesreduce costscreate value.THEORY
VALUE CREATION
Before they can develop a competitive advantage, companies must understand the concept of value creation. This is an analytical system designed to break down the different functions of a company and examine their costs, with the goal of distributing resources throughout the chain as effectively as possible. This enables products to be strategically positioned on the market based on their cost or differentiation.
Costs can be reduced by:
optimising the manufacturing process;purchasing raw materials at a lower cost;innovating;working on the functionality of a product for greater differentiation;increasing manufacturing quality;improving customer service;reducing delivery times through good logistical organisation.An effective analysis of the company’s different functions can boost productivity and lead to sustainable and profitable growth.
