Summary
Contents
Subject index
Strategic Management is an accessible introduction to the subject that will help readers to extend their understanding of key concepts and enhance their thinking skills in line with course requirements. This book provides support on how to revise for exams and prepare for and write assessed pieces. Readers are encouraged not only to think like a professional strategist, but also to think about the subject area critically.
The Value Chain
The Value Chain
As with the analysis of the external environment, frameworks exist to provide the strategic analyst with a methodological approach to evaluating the internal environment. Michael Porter (1985) provided the value chain tool which can be used with most organisational types, although with each organisation the emphasis and focus may be directed in different areas. It is called a value chain as value is added to the raw materials during the process of transformation to the final product. The aim of the organisation is, of course, to add sufficient value so that the customer is willing to pay a premium for the service or product and this assures profitability.
In many service organisations, value is added simply by responding quickly and efficiently to ...
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