Value-added activities
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Value chain is the activities that add value to a firm's products and services; includes R&D, design, production or purchases, marketing, distribution, and customer service.
Definitions
According to Managerial Accounting by Braun, Tietz (5th edition),
- Value chain. The activities that add value to a firm's products and services; includes R&D, design, production or purchases, marketing, distribution, and customer service.