New Hampshire Assessing the Primary and Support Activities in the Value Chain Approach

• Category: Small Business - Sales and Marketing
• State: Multi-State
• Control #: US-03012BG
• Format: Word; Rich Text

Description

The value chain is a concept from business management. A value chain is a chain of activities for a firm operating in a specific industry. The business unit is the appropriate level for construction of a value chain, not the divisional level or corporate level. Products pass through all activities of the chain 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.

New Hampshire is a state located in the New England region of the United States. It is bordered by Massachusetts to the south, Vermont to the west, Maine and the Atlantic Ocean to the east, and Quebec to the north. Known for its stunning natural landscapes, charming small towns, and rich history, New Hampshire offers a diverse range of attractions to both residents and visitors. Assessing the primary and support activities in the value chain approach in New Hampshire involves a detailed examination of the state's economic activities and their interconnections. The value chain approach, coined by Michael Porter, helps identify the different steps involved in the production and delivery of goods and services, highlighting areas where organizations can create and capture value. Within the primary activities of New Hampshire's value chain, several key sectors contribute to the state's economy. These include: 1. Agriculture and Forestry: New Hampshire boasts a thriving agricultural industry, especially in dairy farming, poultry, apples, maple syrup, and Christmas trees. The state's vast forests also support a significant timber industry. 2. Manufacturing: New Hampshire has a strong manufacturing sector, particularly in areas such as computer and electronic products, machinery, and aerospace/defense. The presence of skilled labor and supportive infrastructure make it an attractive location for many manufacturers. 3. Tourism and Hospitality: With its picturesque landscapes, including the White Mountains, lakes, and coastal regions, New Hampshire attracts millions of tourists every year. The tourism industry, comprising accommodations, restaurants, outdoor activities, and entertainment, plays a vital role in the state's economy. 4. Retail and Wholesale Trade: From local specialty shops to major shopping centers, New Hampshire has a vibrant retail industry. Wholesale trade also thrives as businesses supply goods to retailers and other industries. Support activities within New Hampshire's value chain also contribute significantly to the state's economic growth. These may include: 1. Infrastructure Development: The state government invests in infrastructure projects, such as road networks, transportation systems, and utilities, to support economic activities and facilitate the movement of goods and services. 2. Education and Research: New Hampshire is home to several prestigious universities and colleges, fostering a skilled workforce. Research institutions and programs also contribute to innovation and development in sectors like technology, medicine, and engineering. 3. Financial and Legal Services: Financial institutions, such as banks, insurance companies, and investment firms, offer crucial support to businesses in New Hampshire. Legal services help ensure compliance, protect intellectual property, and provide legal representation in case of disputes. Types of New Hampshire Assessing the Primary and Support Activities in the Value Chain Approach: 1. State-level Assessment: This involves analyzing the overall state-level primary and support activities within New Hampshire's value chain, considering factors like economic policies, infrastructure development, and government initiatives. 2. Sector-specific Assessment: Focuses on individual sectors within New Hampshire's economy, evaluating their primary and support activities in terms of value creation, efficiency, and competitiveness. Examples could include assessing the value chain of the tourism and hospitality industry or the manufacturing sector. 3. Regional or Local Assessment: Considers primary and support activities within specific regions or localities within New Hampshire, analyzing the unique economic dynamics and factors influencing the value chain at a smaller scale. In conclusion, New Hampshire's value chain approach entails assessing the primary and support activities across various sectors in the state's economy. By understanding these activities, policymakers, businesses, and stakeholders can identify opportunities for value creation, growth, and improved competitiveness in the region.