Value Chain Management
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In competitive industries, most of the time, companies must look within, and find ways to reduce the cost of bringing a product from the raw material to finished stage, in order to remain competitive in the long run.
The computer microchip industry, in particular, is very competitive. Whenever a new microchip comes into the marketplace, the makers of "clone" microchips release a clone microchip that is almost as good as the original, but priced considerably lower.
The ABC Microchip company specializes in developing first-of-its-kind microchips; yet its market share has been hurt by "clone" microchips. The Robbins text outlines 6 requirements for Value Chain Management. In 4-6 paragraphs, discuss how you would put these requirements to work at the ABC Microchip company, in order to help it remain competitive in the long run.
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The response addresses the queries posted in 481 Words, APA References.
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The response addresses the queries posted in 1016 words with references.
//Prior to starting this assignment, one should go through the value-chain concept given in Robbins, which will be helpful for finding out the requirements of value chain management, which assists the company to stay competitive in the long run. I am providing an overview of value chain and its requirements, which will give an understanding of this concept.//
Value Chain Management
Value chain management is a process that is used to identify and build the competitive advantage (Porter, 1985). It manages the complete sequence of integrated business activities and information that are concerned with product flow and develops a strategy to integrate all the employees into a chain to fulfill the customer needs (Robbins & Coulter, 2006). It is helpful for the business organizations in the sustenance of the competitive advantage by aligning the processes and activities to produce the products and services in a cost effective manner. There are six requirements for value chain management that allow an organization to stand in this competitive world. These are as follows
Organization Culture and Attitudes: Values, beliefs and assumptions shared by the member of an organization form the organization culture and attitude. As the computer microchip industry is highly competitive, the ABC Microchip company needs to develop a congenial work environment that is based on business ethics and values accompanied by healthy relationships. It will become helpful for the employees of the company in getting connected with the organizational policies. Moreover, the employees will also perform their responsibilities with a higher efficiency that will ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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