✍️✍️✍️ Walgreens Value Chain Analysis

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Walgreens Value Chain Analysis

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Value Chain Analysis EXPLAINED - B2U - Business To You

Harvard Business School's Michael E. Porter was the first to introduce the concept of a value chain. Porter, who also developed the Five Forces Model to show businesses where they rank in competition in the current marketplace, discussed the value chain concept in his book Competitive Advantage: Creating and Sustaining Superior Performance Free Press, Each of these activities can contribute to a firm's relative cost position and create a basis for differentiation. In his book, Porter splits a business's activities into two categories: primary and support. Primary activities include the following:. A prime example of creating value for customers is Starbucks. Through its operations, it creates connections throughout the world, guarantees high-quality flavors and works to build a sustainable future.

Starbucks' value chain , like many others, is complex, but ensures value that will impress customers and keep them invested in the company. Starbucks begins by tasting a variety of coffees that use beans from locations such as Latin America, Africa, Arabia, Asia and the Pacific inbound logistics. The company spends time visiting coffee growers and building lifelong relationships. Starbucks creates partnerships all over the world to ensure the best coffee for its customers. Its coffee is sold in stores worldwide operations, outbound logistics and allows customers to enjoy high-quality flavors at home or in a local Starbucks.

Another part of Starbucks' value chain is interacting with customers and ensuring it provides an excellent service. Its social media accounts are a prime spot for interaction, where Starbucks offers twists on its classic drinks to provide a unique experience to customers each time they visit marketing and sales, service. Alongside these processes, Starbucks maintains HR, technology development, finances and other operations. Starbucks presents its coffee as "the end of a long journey — from the land, to the farmer, to the roaster, to your eagerly waiting hands. Each step is important in defining what that coffee will taste like. Value chain management is the process of organizing all activities to properly analyze them.

The goal is to establish communication between the leaders of each stage to ensure the product is placed in the customers' hands as seamlessly as possible. Managing these activities may involve reworking various systems, structures, processes, etc. The key is to find areas of potential innovation. Creating a strategy to develop processes is key to maintaining company value. It helps businesses to see exactly what areas they need to strengthen and how they can reduce costs. It also allows businesses to decide what is most important when thinking about the value they want to create. Mapping out a value chain can be a great way to visualize all processes and see how they're impacting both the company and customers.

According to Strategic Management Insight , there are two approaches to the value chain analysis: cost and differentiation advantage. After identifying the primary and support activities, businesses should identify the cost drivers for each activity. A cost driver is something that affects the cost of an activity or process. Cost drivers can include the following:. Your business should then identify links between activities, knowing that if costs are reduced in one area, they can be reduced in another.

You can then identify opportunities to reduce overall costs. Identifying the activities that create the most value to customers is the priority. These can include the following:. The next step is evaluating these strategies to improve the value. Focusing on customer service, increasing options to customize products or services, offering incentives, and adding product features are some of the ways to improve activity value. Lastly, businesses should identify differentiation that can be maintained, and which adds the most value. Free templates are available online to help you determine and analyze your business's value chains.

According to Investopedia , the primary goal of the value chain analysis is to create or strengthen your business's competitive advantage. Ideally, value chain analysis will help you identify areas that can be optimized for maximum efficiency and profitability. It is important, along with the mechanics of it all, to keep customers feeling confident and secure enough to remain loyal to your business. By analyzing and evaluating product quality and effectiveness of services, along with cost, your business can find and implement strategies to improve. What Is Value Chain Analysis? Kayla Harrison. Find out how you can improve your business's processes. A supply chain and value chain are similar in nature, but the value chain takes a few more things into consideration, like product design, research and development, and advertising.

One of the goals of value chain analysis is to ensure the product is placed in the customers' hands as seamlessly as possible. The final result of a value chain analysis should be a more competitive, efficient business. This might include you though you may have invested money in these companies, or may have been working with one of them for years as an employee, or have consulted with them as an expert for a long time. You can play with assumptions, or try scenarios, as-well-as ask questions to other users and experts.

The platform uses extensive data to show in a single snapshot what drives the value of a company's business. Trefis is currently used by hundreds of thousands of investors, company employees, and business professionals. This is a BETA experience. You may opt-out by clicking here. More From Forbes. Oct 8, , am EDT. Edit Story. May 19, , am EDT. Trefis Team Contributor.

Open Document. The buyers of health and beauty Walgreens Value Chain Analysis also consist of a Walgreens Value Chain Analysis range of users. Value chain example: Starbucks A prime example Walgreens Value Chain Analysis creating value for customers is Walgreens Value Chain Analysis. By analyzing Walgreens Value Chain Analysis evaluating product quality and Iron Jawed Angels Essay of services, along with cost, your Walgreens Value Chain Analysis can find and implement strategies Walgreens Value Chain Analysis improve.