THE BUSINESS ABYSS

There are many aspects of business that must be mastered.

One of the most important is the concept of the ‘ VALUE CHAIN”.

What this phrase attempts to do is encapsulate the activities inside a business which staff undertake to :

1. Design

2. Produce

3. Market

4. Deliver, and

5. Support its product offering

So instead of looking at these activities separately, it is better to look at them together like a CHAIN where all the parts are linked together in providing customers with a point of difference, some special VALUE and thereby enhance the organization with some competitive advantage.

There has to be great communication between these separate units to get superior outcomes.

Concepts such as innovation, stock control, pricing, materials handling, outsourcing, data base management, linkages, relationships with customers & suppliers, blockages, life cycles, marketing mix….and many others have to be understood and backed by quality data.