Question
Manufacturing companies create value by acquiring raw materials and consumes them to produce useful products or items. Retailers bring together a range of products and
Manufacturing companies create value by acquiring raw materials and consumes them to produce useful products or items. Retailers bring together a range of products and present them in a way that's convenient to customers, sometimes supported by services such as fitting room or personal shopper advice. While for an insurance companies, they offer policies to customers and packaging these policies in a customer-friendly way. In this scenario, understanding how your company creates value, and looking for ways to add more value, are critical elements in developing a competitive strategy. The more value companies create, the more profitable it is likely to be. Discuss and comment on this statement by using Porter's Value of Chain.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started