The Value Chain is a concept that describes the full range of activities a company engages in to deliver a product or service to the market. It includes everything from the initial design and production to marketing, sales, and customer support. By analyzing each step, businesses can identify areas where they can improve efficiency, reduce costs, or enhance quality, ultimately increasing their competitive advantage. Each part of the value chain adds value to the final product, making it more appealing to customers. For example, a company like Apple focuses on design and innovation, while also ensuring that their supply chain is efficient. This holistic approach helps them maintain a strong position in the market.