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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.

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