A value chain is a set of activities that an organization carries out to create value for its customers. The concept, introduced by Michael Porter, helps businesses understand the specific activities through which they can gain a competitive advantage. The value chain is typically divided into primary and support activities:

Primary Activities: Directly related to the production and delivery of products and services. These include:
Inbound logistics (receiving and storing raw materials)
Operations (converting raw materials into final products)
Outbound logistics (distributing products to customers)
Marketing and sales (promoting and selling products)
Service (after-sales support)
Support Activities: Indirectly support the primary activities. These include:
Firm infrastructure (management, finance, planning)
Human resource management (recruiting, training, development)
Technology development (R&D, innovation)
Procurement (acquiring goods and services)
By analyzing the value chain, companies can identify areas for improvement, cost reduction, and differentiation.

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