Final answer:
A value chain analysis is a framework used to analyze the activities and processes that a company undertakes in order to deliver a product or service. It allows businesses to identify areas of strength and weakness in their operations, and to optimize their activities to create value for customers and increase competitiveness.
Step-by-step explanation:
A value chain analysis is a framework used to analyze the activities and processes that a company undertakes in order to deliver a product or service. It allows businesses to identify areas of strength and weakness in their operations, and to optimize their activities to create value for customers and increase competitiveness.
When conducting a value chain analysis, companies typically focus on their core business, which refers to their primary area of expertise or specialization. This could be the production of a specific product, the provision of a particular service, or a combination of both.
For example, Apple's core business is the development, manufacturing, and marketing of consumer electronics products, such as iPhones, iPads, and Macs. When conducting a value chain analysis for Apple, the company would examine the various activities involved in the production and delivery of these products, including design, engineering, supply chain management, marketing, and customer service.