The Value Chain in bsbmgt608 manage innovation and continuous improvement

The main components of a supply chain map require an organization to operate with external suppliers. One of the main parts of the supply chain and management process involves supplying materials in the production process.

To understand the value chain for bsbmgt608 manage innovation and continuous improvement, read the following paragraphs to learn more.

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Management academic Michael Porter developed the value chain theory during the 1980s. His process view of organizations included a system that is divided into subsystems. These subsystems also had inputs, transformation processes and outputs.

Now, the bsbmgt608 task Answers value chain theory has developed into management methodology. It helps understand the process by which value is created. The theory also develops methods and other organizational systems. Hence, it helps reduce costs and increases value.

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The two types of the value chain in an organization

An organization's value chain is divided into two parts – the primary and the secondary or support activities. These activities involve organizational systems that create valuable services and products. The higher the captured value, the bigger the profit margin since consumers will pay higher prices for valuable products or services.   

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The value chain is measured in two ways: efficiency and quality.

Efficiency measures determine cost-effectiveness and productivity by comparing inputs and outputs. For example, outputs per unit of time, the number of calls taken by a customer service team, or the cost per product.

Quality measures help determine the effectiveness that meets customer expectations for service responsiveness and product reliability. The bsbmgt608 answers measuring error rates for manufacturing organizations. A customer service team might perceive quality measure as a customer’s satisfaction level with prior contact with the team.

Performance data sources

Now let’s look at the sources where you get bsbmgt608 solutions for performance data.

1. Reports and charts are generated from an organization's information system.


2. Use statistical reporting tools like pie charts, control charts, Gantt charts and more to compare data systems.

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3. Specifying benchmarking measures to set KPIs for potential business areas.


4. Use informal and formal surveys and opinions from customers, team members, managers, shareholders and other staff members.


5. Initiate daily discussions on formal and informal levels and include potential staff members and managers who remain updated with the current trends.

Conclusion

The value chain theory helps understand the creation of value with bsbmgt608 task answers. This theory aims to increase value while saving money by reducing an organization’s expenses.   

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