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A value chain is a progression of activities that a business or firm performs in order to deliver goods and services of value to an end customer.The concept comes from the field of business management and was first described by Michael Porter in his 1985 best-seller, Competitive Advantage: Creating and Sustaining Superior Performance.
Whereas a value stream map represents a core business process that adds value to a material product, a value chain diagram shows an overview of all activities within a company. [3] Other business activities may be represented in "value stream diagrams" and/or other kinds of diagram that represent business processes that create and use business ...
Global process models are presented using different methodologies and sometimes under different names. Most notably, they are named process map in Visual Paradigm [3] and MMABP, [2] value-added chain in ARIS, [4] and process diagram in Eriksson-Penker notation [5] – which can easily lead to the confusion with process flow (detailed process ...
The result of structuring a company's business processes is the process map (shown, for example, as a value chain diagram). Hermann J. Schmelzer and Wolfgang Sesselmann add: "There are connections and dependencies between the business processes. They are based on the transfer of services and information.
Business process mapping, also known as process charting, has become much more prevalent and understood in the business world in recent years. Process maps can be used in every section of life or business. The Major Steps of Process Improvement using Process Mapping Process identification - identify objectives, scope, players and work areas.
To create a SIPOC diagram, one must first map the overall process in a few steps. Then one must identify process outputs, who will receive them, and what the necessary inputs and suppliers are for each process. The final step is to share the diagram with the stakeholders to evaluate and verify the results. [5]
For example, a conventional accounting asset such as goodwill is not an REA resource. There is a separate REA model for each business process in the company. A business process roughly corresponds to a functional department, or a function in Michael Porter's value chain. Examples of business processes would be sales, purchases, conversion or ...
A value stream is the set of actions that take place to add value to a customer from the initial request through realization of value by the customer. The value stream begins with the initial concept, moves through various stages of development and on through delivery and support. A value stream always begins and ends with a customer.
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