Value Chain Management Specialization

Start Date: 07/12/2020

Course Type: Specialization Course

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About Course

The purpose of organizations is to produce and deliver goods and services of value to customers while generating a surplus for owners. Value chain management focuses on understanding what different customers value, measuring inputs and outputs to assess value, and generating higher value for customers and greater surplus for organizations. In this Specialization, you will gain competencies that are critical for managers in any functional area. You will learn to create, model, analyze, and maximize value in accounting, operations, and marketing. This Specialization is part of the University of Illinois iMBA Program. Each course fulfills a portion of the requirements for a University of Illinois course that can earn you college credit. When you complete the Value Chain Management Specialization, you will: · Understand how to apply a financial perspective of accounting for costs, understand how financial and non-financial accounting information facilitates strategic performance measurement, and integrate this information to continuously improve strategy. · Understand the role of operations management and process improvement, synthesize information to make decisions for organizational initiatives, and apply analytical techniques for tactical operations and process improvement decisions. · Understand how marketing works in the business world and how various marketing elements interact to create value for consumers and ultimately maximize value for your organization.

Course Syllabus

Managerial Accounting: Cost Behaviors, Systems, and Analysis
Managerial Accounting: Tools for Facilitating and Guiding Business Decisions
Operations Management: Analysis and Improvement Methods
Operations Management: Strategy and Quality Management for the Digital Age

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Course Introduction

Master Value Chain Analysis. Acquire critical business management competencies to create, measure, and maximize value. Value Chain Management Specialization In this specialization you will learn the important considerations in evaluating business strategy, operating processes, processes, and techniques for managing value chains. You will learn how to measure value chains and measure investment decisions. You will learn the different types of value streams and the types of assets, such as companies and partnerships, that they process through. You will also learn how to measure the value of companies and the performance of them. You will learn how to value companies using discount rate models and how to allocate capital. You will also learn how to measure the value of companies by using financial ratios and other analytical techniques. You will also learn about methods to measure the performance of companies and the selection of the best capital investment for a given company. You will also learn about methods to measure the performance of companies by using financial ratios and other analytical techniques. You will also learn about methods to select the best capital investment for a given company. You will also learn about methods to select the best capital investment for a given company. You will also learn about methods to measure the performance of companies by using financial ratios and other analytical techniques. You will also learn how to allocate capital. You will learn how to measure the performance of companies by using financial ratios and other analytical techniques. You will also learn how to allocate capital. By the end of this Specialization, you will understand how the value chain, the business strategy, and the investment decisions are made by management team, and how you can be a

Course Tag

Management Accounting Quality Control Operations Management Marketing

Related Wiki Topic

Article Example
Value chain management capability Internationality is an overarching theme in value chain management. Therefore, it is argued here that collective international orientation is the basis for value chain management capability. This is illustrated in the following figure.
Value chain management capability Value chain management capability refers to an organisation’s capacity to manage the internationally dispersed activities and partners that are part of its value chain. Value chain management capability is a higher level capability that draws together a variety of lower level capabilities. Each of the lower level capabilities are valuable and necessary as such, and they come together to form a higher level capability that enables a more holistic approach to management of international value chains.
Value chain management capability Network capability includes both, management of individual partnerships as well as management of the whole network. Management of individual partnerships is however easily emphasized more than the management of the portfolio as a whole, and hence the portfolio of partnerships may be quite fragmented. In literature it is suggested that linking different parts of the value chain would be part of managing the chain, but the empirical data shows that it may be unachievable or even undesirable for small firms.
Value chain management capability The dimensions of value chain management capability presented below are based on a longitudinal case study. The empirical data was collected through a series of interviews with top managers in a globally operating technology-based SME.
Value chain management capability The proposed model is based on seminal qualitative work. The concept of value chain management capability needs further development and more extensive research is required. This study provides interesting insights to this real-life phenomenon but it also points out that theoretically it would deserve additional attention. In further empirical research it would be interesting to conduct more of these holistic case studies to be able to analyze the phenomenon across cases. Additionally, extending the case study at hand to cover informants also from other organizations of the value chain could bring interesting new insights. Moreover, the development of a measure for value chain management capability requires much more work. Through further in-depth studies, it is possible to develop measures for rigorous testing. Since internationalizing value chains appear to be requisite for small firms in the software industry, and managing them very challenging, it is vital to know more about what makes it possible to succeed with them.
Value chain management capability In addition to the capabilities highlighted in earlier literature, effective utilization of virtual teams was brought up in the interviews. Working in virtual teams is common in many firms today. Proficient management enables intercultural teams to work well and to be productive. Furthermore, the employees must be tuned to teamwork in the sense that they see the benefits of doing things together. This can develop into an important organizational capability in SMEs, and thus enable global scale business with limited resources. It is moreover an important factor in the value chain management, as the internationally spread virtual teams coordinate and try to influence the operations of the value chain members.
Value chain management capability The capabilities involved in value chain management are very much interlinked and overlapping. The fact that the elements go hand in hand supports the need to have an upper level construct of value chain management capability. When changes in one area affect also the other areas of the higher level capability, it is important to be aware of the big picture. Synthesizing the individual capabilities into the upper level construct gives a more extensive view of the phenomenon and enables indeed finding linkages between the capabilities.
Value chain Combined Value Chain = Physical Value shown in sample below.
Demand chain management Demand chain management (DCM) is the management of relationships between suppliers and customers to deliver the best value to the customer at the least cost to the demand chain as a whole. Demand chain management is similar to supply chain management but with special regard to the customers.
Value chain Capturing the value generated along the chain is the new approach taken by many management strategists. For example, a manufacturer might require its parts suppliers to be located nearby its assembly plant to minimize the cost of transportation. By exploiting the upstream and downstream information flowing along the value chain, the firms may try to bypass the intermediaries creating new business models, or in other ways create improvements in its value system.
Critical chain project management Critical chain project management uses buffer management instead of earned value management to assess the performance of a project. Some project managers feel that the earned value management technique is misleading, because it does not distinguish progress on the project constraint (i.e., on the critical chain) from progress on non-constraints ("i.e., on other paths). Event chain methodology can determine a size of project, feeding, and resource buffers.
Demand chain management Demand chain management software tools bridge the gap between the customer relationship management and the supply chain management. The organization's supply chain processes are managed to deliver best value according to the demand of the customers. DCM creates strategic assets for the firm in terms of the overall value creation as it enables the firm to implement and integrate marketing and supply chain management (SCM) strategies that improve its overall performance. A study of the university in Wageningen (the Netherlands) sees DCM as an extension of supply chain management, due to its incorporation of the market orientation perspective on its concept.
Value chain management capability Market and marketing-related capabilities (Möller and Anttila 1987) are important for value chain management and the growing emphasis on services and software poses new requirements to marketing (cf. Vargo and Lush 2004). Market orientation appears to be crucial for steering the value chain effectively. Moreover, customer orientation was the most emphasized element of market orientation (see Narver & Slater 1990). (The technology-intensive nature of the business may have an influence here: Since the systems sold require customer contact before (specification etc.) and after sales (operational support and strategic care cf. Helander and Möller 2008), strong customer orientation is naturally necessary.)
Value chain Value chain analysis has also been successfully used in large petrochemical plant maintenance organizations to show how work selection, work planning, work scheduling and finally work execution can (when considered as elements of chains) help drive lean approaches to maintenance. The Maintenance Value Chain approach is particularly successful when used as a tool for helping change management as it is seen as more user-friendly than other business process tools.
Supply chain management In the 1990s, companies began to focus on "core competencies" and specialization. They abandoned vertical integration, sold off non-core operations, and outsourced those functions to other companies. This changed management requirements, by extending the supply chain beyond the company walls and distributing management across specialized supply chain partnerships.
Value chain The appropriate level for constructing a value chain is the business unit, not division or corporate level. Products pass through a chain of activities in order, and at each activity the product gains some value. The chain of activities gives the products more added value than the sum of added values of all activities.
Value grid The value grid model was proposed by Pil and Holweg as a means to show that the way firms compete has shifted away from the linear value chain way management theory has traditionally thought about value chain management.
Value chain The value chain framework quickly made its way to the forefront of management thought as a powerful analysis tool for strategic planning. The simpler concept of value streams, a cross-functional process which was developed over the next decade, had some success in the early 1990s.
Supply chain management Six major movements can be observed in the evolution of supply chain management studies: creation, integration, and globalization (Movahedi et al., 2009), specialization phases one and two, and SCM 2.0.
Value chain An industry value-chain is a physical representation of the various processes involved in producing goods (and services), starting with raw materials and ending with the delivered product (also known as the supply chain). It is based on the notion of value-added at the link (read: stage of production) level. The sum total of link-level value-added yields total value. The French Physiocrats' "Tableau économique" is one of the earliest examples of a value chain. Wasilly Leontief's Input-Output tables, published in the 1950s, provide estimates of the relative importance of each individual link in industry-level value-chains for the U.S. economy.