As companies begin to expand globally, it needs to understand the laws of each country. Since each country regulations are different, its needs to take special consideration before entering and investing into a new market in order to prevent violating any of them. This is especially true when regulations involving imports and exports are affected. While the restrictions of goods shipments may not be a major concern, selection and switching of suppliers relating to manufacturing and outsourcing can greatly affect profit margins, production costs as well as other incentives in different areas. Moreover, laws governing corporate social responsibility like minimum wages, child labour and other environmental issues affect organisational growth. Due to inflation, the rising costs of raw materials like cotton are felt globally.
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From the time of harvesting till it reached the last consumers the leaves have to pass through a series of chain that add value to its. At these chains there are peoples with a different function, and each one played a role that is important to the successful commercialization of the leaf, and each has difference incentive and ability to influence the value chain. Value chain analysis is important to indentify the people involved, understand their roles, analyse the incentive for their involvement in the chain and also their power to work within and influence that chain. Value chain analysis also provide researcher with tools to ask important questions about the distribution of power and value across the chain and is therefore eminently capable of addressing the urgency of workers and small producers.
While the supply chain focuses on the procurement process of goods and services from suppliers, a value chain studies the value added at various intervals through a series of activities or processes that aim to create profitable value for a product offering. Michael Porter discusses value chain analysis from multiple angles in his book. However, there are a few essential components to be aware of when beginning to understand value chain analysis. The primary activities are directly related to the creation of a good or service.
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