A value chain of a company depends on the raw materials. If the company develop software, whatever changes it goes through before it is sold to consumers, it added the values that the software has. Therefore, to deliver a valuable product or a service an organisation should have use quality content or materials (Gereffi and Fernandez-Stark, 2016). The process, through which all the value adding activities goes on that process actually called value chain. To maintaining the value chain in analyse way called value management. This the way to calculate the value added by different departments of the organisation and their importance.
Managing Value chain
As I progress through the value chain process, the value chain is used to mitigate risks of an organisation. If the company follows the value chain to check the quality of services that they are providing to the customers, then the risk of loss will be decreased. When a company produce something to sell, they need lots of capital to invest and to keep a record of the spend money thus the value chain helped in this case. Because the value chain process contains the steps to check the products before it goes to market. Therefore, the whole sum was showing clear on the processes. It also helps in solving the occurring problems on the process level. As the value, chain management does the job of watching every step of processing the service it allows the management enhancing their confidence and give the commitment to others about the services that they are providing. It helps the company to manage their capital in the processing part. It needs to be increased to produce a better service. Because all the spending is very clear in this process and easy to be found. Customers are the most important part of a business. The whole process is done for the customers and to please them. If they are not satisfied with the services that have delivered, everything will be wasted. Therefore, it is the best part of managing the value chain because it helps to develop the relationships between the customer and the service provider. Maintaining relationship with the customers always help the company to develop and improve their business activities. Value chain management processes improve the quality of services, and the quality service gets admiration from all over the world. It increases the globalisation of the company.
Managing the value chain helps in many cases. It reduces the delivery time and increases productivity. This helps in maintaining the good relationship between the retailers and service providers. If the organisation is able to deliver the order, services more quickly than any retailer will be happy with the work. If the work is done before time and efficiently the delivery of the service will be increased naturally. For all this, the customers are ultimately benefited by the faster deliveries. If a company is able to give faster and efficient delivery of services, then the retailers also started to commit the customers (Ganesh et al. 2014). They started to believe the service of the company and it is a big profit for them. Ultimately, the faith is the most important aspect of building a business or the relationships between retailer customer or company and retailer. The last or final benefits of the chain value management are represented with the gross revenue or profit and net profit of the company. With effective services and distribution of products, the company can meet customers demand when they want. The consistency and efficiency of the service's influence motivate and attract the customer to choose the service brand or company. These are the factors behind value chain management, for these reasons company should manage the value chain.
After attending group discussion and activities about value chain management all I can understand is the effectiveness of a value chain and its importance. There are many advantages of this management process that are discussed above. The delivery time will be decreased and productivity will be increased (Clarysse et al. 2014). The relationship of the customer and the retailer will be developed. The relationship of the service provider and the retailer will be good. The faith will take place in between the service providers and retailers. The benefits of attending group discussion are I can meet with a different type of people and get to know different types of ideas and-and business plans. I can develop my skills, strengthen, and sharpen my knowledge about the value chain more. Practising activities related to value chain can be an advantage for me. These activities help me to improve my work and develop the quality of the company’s service. Attending the activities and group discussion is helpful for many reasons it can bring you new strategies and processes that might give your company a different way of success. I can try out different thoughts to improve my relationship with the consumers and the retailers. If I am not travelling and attending the activities and group discussions related value chain, I will not be able to open up with my thoughts and working process. In addition, it will be not profitable for the company. The management group should understand the importance of attending group discussions. Moreover, should enhance their-their business ideas with it.
I can perfect my skills and try to gather more about the value chain. The knowledge that I have gathered by attending group discussions and joining activities helped in developing the business. By travelling different companies too I can gather knowledge about value chain. All these knowledge should be used in a workplace. In the process of developing a business, value chain plays an important role. To develop the business the knowledge should be used in different areas of processing the service. Do research about my gathered knowledge that is it appropriate for your business or not. Choose and apply the right ideas and knowledge to enhance the productivity of your business organisation. I would always think about what would be the right strategies for my company's profit and work on that area of the service. With my knowledge, I can train my employees and motivate them to work together for the same purpose that is the success of the company and its profit. I can motivate the workers with my knowledge to do the work efficiently and with determination. I will always be competitive in business and have the knowledge that my rival companies are doing. Plan my value chain according to my knowledge and try to improve my business. By applying the knowledge and ideas in value Chain management, I can approach my business with many facilities. I can utilise my knowledge improving my service related network and connections. I can expand my business and develop the network.
To maintain the value chain the authority should be responsible enough to check the making processes of a product and analyse it efficiently. The recruiter should be responsible, skilled and choose appropriate people who can observe the process very carefully. They should be able to analyse the problems and find its solutions immediately. The value chain needs to be well constructed and divided into many groups. Therefore, the work will be easier for the employees and observers to complete. The management should do planning to grow their business in a positive way. The upper-level authority members should be capable of extracting the best quality work from the workers (Meijerink et al. 2016). It is very important to maintain the harmony among the labourers because they are the productive team of a company. The employer and employee quarrel should be avoided. The management is suggested to tally other company's value chain to improve their own. The authority should be very knowledgeable about their marketing and business. They should notice the minor factors too so that it cannot affect the whole business. A small change can damage a business if it is not followed. Therefore, the employer and the management should be aware of their market risks and the environment. They should keep checking the market news and adjust them according to them. The organisation should be capable of adjusting with going changes. They should reward their employees if they are good at their work. Should granted leaves to motivate them. Talk about their families, could bound them emotionally with the company. They will feel good to be associated with the company and work efficiently.
In the process of developing a company, there are many steps should be followed. The value chain is one of them; it contains many facilities and advantages. The advantages are increased productivity, decrease the delivery time, mitigation of situation can be done in this process, the relationship between service provider and retailer. I can develop my business ideas by my knowledge. Business can be developed by attending group discussions and practising activities. I can perfect my skills though the processing of the value chain. It helps the business to grow up in a systematic and analysed way. Every company should have followed the value chain for increasing their productivity and maintaining good service.
- Clarysse, B., Wright, M., Bruneel, J. and Mahajan, A., (2014). Creating value in ecosystems: Crossing the chasm between knowledge and business ecosystems. Research Policy, 43(7), pp.1164-1176.
- Ganesh, M., Raghunathan, S. and Rajendran, C., (2014). The value of information sharing in a multi-product, multi-level supply chain: Impact of product substitution, demand correlation, and partial information sharing. Decision Support Systems, 58, pp.79-94.
- Gereffi, G. and Fernandez-Stark, K., (2016). Global value chain analysis: a primer.
- Meijerink, J.G., Bondarouk, T. and Lepak, D.P., (2016). Employees as Active Consumers of HRM: Linking Employees’ HRM Competences with Their Perceptions of HRM Service Value. Human resource management, 55(2), pp.219-240.