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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.
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.
The difference is profit for the firm and its shareholders after all the costs and taxes owed by the business have been paid for that financial year. Value added or any related measure may help investors decide if this is a business that is worthwhile investing on, or that there are other and better opportunities (fixed deposits, debentures).
Value added is a term in financial economics for calculating the difference between market value of a product or service, and the sum value of its constituents. It is relatively expressed to the supply-demand curve for specific units of sale. [ 1 ]
Value renewal also includes steadily updating value, where by adding new features to existing value preposition customer value is increased. [16] Value transfer: At the last stage of the value cycle, there is a possibility that a customer transfers the acquired value after its consumption.
A value-added service (VAS) is a popular telecommunications industry [1] term for non-core services, or, in short, all services beyond standard voice calls and fax transmissions. However, it can be used in any service industry, for services available at little or no cost, to promote their primary business.
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The value add can be seen in several different ways. The first is the obvious fuel savings. But there is also added value in less time spent at the gas station, and the cars pollute the air less than a normal combustion engine. The value add in this instance is determined by the customer, and not the company selling the car. [citation needed]