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Video of What is Value Chain Components? Simply Explained W/Example. Cost Accounting Course. CPA BAR Exam in Costs Accounting course by Farhat Lectures. The # 1 CPA & Accounting Courses channel, video No. 26 free certified online
IN this video, I discuss the value chain. A value chain is a step-by-step business model for transforming a product or service from idea to reality. Farhat accounting lectures had the best "value chain explained" on youtube.
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What Is a Value Chain?
A value chain is a business model that describes the full range of activities needed to create a product or service. For companies that produce goods, a value chain comprises the steps that involve bringing a product from conception to distribution, and everything in between—such as procuring raw materials, manufacturing functions, and marketing activities.
A company conducts a value-chain analysis by evaluating the detailed procedures involved in each step of its business. The purpose of a value-chain analysis is to increase production efficiency so that a company can deliver maximum value for the least possible cost.