6.0 Value Chain
Value chain is a set of activities that a business carries out to create value for its customers. It is very important to identify and fix the value chain activities involve in a business because every activity involves in the business will determine the cost and affect the profit.
For Passion Honeyy, the value chain activities of the business are shown in the diagram below. The value chain activities of Passion Honeyy will be separated into two types, which are the primary activities (inbound logistics, operation, outbound logistics, marketing and sales and service) and support activities (firm infrastructure, human resource management, technology and procurement).
Diagram: Value chain activities by Passion Honeyy …show more content…
We will look for the vendors can support our business needs and fundamental principal. For example, the quality of the clothes and accessories must not be very bad like damaged, poor material, dirts. If this happen, we will not continue make order with the vendor again. For the vendors that provide satisfied stocks, we will continue make order with them and also negotiate with the vendors to get the best price for our business.
Human Resource Management
As Passion Honeyy is an online business, we do not need extra workers unless the business is expanding and getting more sales. Currently, there are four partners that will work together in this business. The four business partners are students from Bachelor of Entrepreneurship and have experiences in doing business.
Technology Development
Technology development includes the activities related to managing and processing the information while protecting a company’s knowledge base. Many online business has been using online system where they keep the customers’ details and the business information such as stock price, selling price, monthly sales and so on. However, for our business Passion Honeyy, we choose to use the offline simple software which is Microsoft Access. This is because online cloud system can be very dangerous and lacked of security, at the same time, it needs a high cost to
Value chain is a set of activities that a business carries out to create value for its customers. It is very important to identify and fix the value chain activities involve in a business because every activity involves in the business will determine the cost and affect the profit.
For Passion Honeyy, the value chain activities of the business are shown in the diagram below. The value chain activities of Passion Honeyy will be separated into two types, which are the primary activities (inbound logistics, operation, outbound logistics, marketing and sales and service) and support activities (firm infrastructure, human resource management, technology and procurement).
Diagram: Value chain activities by Passion Honeyy …show more content…
We will look for the vendors can support our business needs and fundamental principal. For example, the quality of the clothes and accessories must not be very bad like damaged, poor material, dirts. If this happen, we will not continue make order with the vendor again. For the vendors that provide satisfied stocks, we will continue make order with them and also negotiate with the vendors to get the best price for our business.
Human Resource Management
As Passion Honeyy is an online business, we do not need extra workers unless the business is expanding and getting more sales. Currently, there are four partners that will work together in this business. The four business partners are students from Bachelor of Entrepreneurship and have experiences in doing business.
Technology Development
Technology development includes the activities related to managing and processing the information while protecting a company’s knowledge base. Many online business has been using online system where they keep the customers’ details and the business information such as stock price, selling price, monthly sales and so on. However, for our business Passion Honeyy, we choose to use the offline simple software which is Microsoft Access. This is because online cloud system can be very dangerous and lacked of security, at the same time, it needs a high cost to