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

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Essay

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


Definitions:

Investments

The allocation of resources, such as time, money, or effort, in the expectation of achieving a future return or benefit.

Underestimating

The act of assessing something as smaller, less important, or less severe than it actually is.

Original Estimates

The initial predictions made regarding the effort, time, and resources required to complete a project or task.

Total Estimate

The comprehensive calculation of the anticipated cost of a project or the final total quantity of something.

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