A company value chain is a series of activities or processes that take place within an organization in order to create and deliver value to customers. The term was popularized by Michael Porter in his book Competitive Advantage, where he outlined the basic components of a firm’s value chain – such as research and development, production, marketing and sales, distribution, and customer service. In order to maximize its competitive advantage, a company must clearly understand every step in its value chain, from start to finish. By doing so, businesses can identify areas for improvement and ensure that their products and services are delivered to customers in the most efficient and cost-effective way possible.