Briefly Describe the Concepts of Value, Margin, and Value Chain

question 3

Essay

Briefly describe the concepts of value, margin, and value chain as defined by Porter.

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Definitions:

Cash Overage

A situation where the actual cash on hand exceeds the expected amount, often due to accounting errors or unrecorded transactions.

Cash Receipts

The collection of money (currency, checks, or electronic transfers) received by a business from its various sources.

Cash Payments

Transactions involving the transfer of cash from one entity to another, typically in exchange for goods or services.

Debit Balance

The amount that remains in a specific account after accounting for debits and credits, indicating the total debits exceed the total credits.