A company's value chain identifies

the steps it goes through to convert its net income into value for shareholders.

the specific resources and capabilities that underpin its efforts to create value for customers and shareholders.

the primary activities foremost in the company's scheme for creating and delivering value to customers and the requisite support activities that facilitate and enhance the performance of the primary activities.

the activities it performs in transforming its competencies into core and$/$or distinctive competencies.

the series of steps it takes to get a product from the raw materials stage into the hands of end$-$users.