The value chain is an effective management tool to identify the appropriate steps to provide consumers with competitive and quality products and determine what steps produce the most value (Blocher et. al, 2013). Arguably one of organizations’ top priorities is to continue to provide value through products to consumers. Therefore, the value chain is incredibly propitious, as organizations study and evaluate each step in attempts to reduce costs, adapt more favorable prices, and determine which steps are not competitive. This will provide management with adequate information to make informed decisions on how to improve a certain step to bolster the customer’s experience. In order for Dynax to conduct an effective and successful value chain analysis, they must take the time to identify competitive advantage, opportunities for added value, and opportunities for reduced cost (Blocher et. al, 2013). A thorough evaluation is necessary because consumer satisfaction will increase with a reduction in prices while other consumers rather see added value with different
The value chain is an effective management tool to identify the appropriate steps to provide consumers with competitive and quality products and determine what steps produce the most value (Blocher et. al, 2013). Arguably one of organizations’ top priorities is to continue to provide value through products to consumers. Therefore, the value chain is incredibly propitious, as organizations study and evaluate each step in attempts to reduce costs, adapt more favorable prices, and determine which steps are not competitive. This will provide management with adequate information to make informed decisions on how to improve a certain step to bolster the customer’s experience. In order for Dynax to conduct an effective and successful value chain analysis, they must take the time to identify competitive advantage, opportunities for added value, and opportunities for reduced cost (Blocher et. al, 2013). A thorough evaluation is necessary because consumer satisfaction will increase with a reduction in prices while other consumers rather see added value with different