The value chain is a major focus in today's business world, and
many companies and managers allocate considerable resources to
understanding and analysing their value chain. The main reason for
doing this is either to eliminate activities that do not add value,
or to improve on activities that do not add sufficient value. In
order to ensure optimum customer satisfaction, businesses must
integrate the activities of various departments and functions. This
demands a sound understanding of the chain of activities and their
interrelationship with other business activities. The authors of
Business management adopt the value chain as a framework in order
to help business students to visualise how the value chain works.
New ground is broken in that management is not dealt with merely
from a functional perspective. While the goal is to introduce
undergraduate learners to the concept of the value chain, it is
not, however, to offer a comprehensive directory on the related
literature. The book is divided into three parts. Part A introduces
the reader to business management, the value chain, the business
environment, the entrepreneurial process, and the considerations
that need to be taken into account when establishing a business.
Part B examines the activities of the value chain, starting with
general management and leadership, followed by the primary and
support activities that constitute the value chain. In Part C,
contemporary management issues are reviewed, including diversity
management, business ethics, globalisation, creativity and
innovation, environmental issues, corporate governance and black
economic empowerment. Business management - a value chain approach
covers basic points of theory, but it also has a strong practical
approach, and includes self-evaluation exercises, challenging
experiential exercises, information about relevant websites,
interesting discussion questions and case studies, as well as
useful lists of key terms. This revised second edition has been
updated in respect of new legislation such as the Companies Act,
the Co-operatives Act, the Consumer Protection Act and the National
Credit Act. Statistics have also been aligned with Census 2011.
General
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