What is a value chain? Why is efficiency so important in an organizations' value chain activities?

Define value creation for customers and the components that can be used to determine value creation per unit. How value creation is related to competitive advantage?

What is a value chain? Why is efficiency so important in an organizations' value chain activities?
What building blocks in value creation can an organization use to sustain competitive advantage? How best you can sustain competitive advantage?
What does internal analysis help a company to determine? How does this process contribute to the overall health (value creation, competitive advantage, profitability) of a company?
Why do companies fail? How does competitive advantage relate to failure? If competitive advantage is not maintained, what would be the consequence for a company?
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