At the beginning of 2020, all industries have been impacted dramatically by the Covid-19 pandemic, which changed the way we work, the way we create value for our society, and the way we create and deliver services and products.
This impact shifted the industries to reimagine their business resilience in crises time and brought new innovations and business models that disrupted all industries. The disruption is continued with the current Russian & Ukrainian war, the food shortage, climate change, and the need for more sustainable and conscious business.
If you have not analyzed how your industry has shifted, this article will help you understand and visualize that shift using a simple tool called the Industry Value Chain.
You can consider the Industry Value chain as a tool to visualize how the value of an industry is created, who are the players that generate the value, and who receives that value.
The value chain is important not only to visualize the current chain but to understand the industry shifts, and who the new players are disrupting the chain by creating new value. This new value can either impact your business negatively or positively.
I would consider it a great tool to identify the existing capabilities and the required essential new capabilities that your business may be missing.
In this article, I will discuss how to visualize the value chain and create a value chain for the industry, and what are the use cases that can benefit your business from that.Read more