value-chain

Vocabulary Word

Definition

The 'value-chain' is like a team relay race where everyone's contribution affects the final result. It's all the activities a company does to create and deliver a product or service to the market, from initial concept to final customer experience.

Examples in Different Contexts

In the software industry, the value-chain might include stages like development, testing, marketing, distribution, and customer support.

Practice Scenarios

Sustainability

Scenario:

The company's goal is to reduce its carbon footprint. Where do you see opportunities for greener practices?

Response:

Let's assess our value-chain and find ways to incorporate sustainable practices in each step.

Tech

Scenario:

We need to ensure a smooth and efficient workflow, from brainstorming new software features to customer support. How can we improve this process?

Response:

Mapping out our technology value-chain will help us identify bottlenecks and streamline the process.