GGR209H5 Lecture Notes - Lecture 4: Value Chain, Competitive Advantage, Vertical Integration
Document Summary
Division of labour: practice of having several people with specialized skills perform different tasks in a coordinated sequence, rather than one person perform multiple tasks among and within places and across space. Spatial division of labour: allocation of specialized tasks. Economies of scale improved: internal economies of scale (textbook 2. 1, external economies of scale. Value chains comprise markets that link economic activities to. Consumers may be individuals, businesses, or governments, etc. The activities involve resources, manufactured inputs, and. The final product may be a commodity, manufactured good, or. Markets may be clustered and/or dispersed around the globe. Regional development is based on adding value within value. Value chain construction seeks to realize economies of scale and services service. Internal economies of scale also occur at the level of the firm (or organization) These economies mainly result from: more effective utilization of investments in managerial, supporting infrastructure such as accounting, marketing, functions purchasing, and research & development.
