Value chain concept
Value chain approach comprises activities conducted by organization in order to create value for its customers such as designing, manufacturing, advertising, packaging etc. Business operations are conducted for providing goods and services to customers in required manner. The process begins with raw material by which products are made and include all the things that is required before delivering it to customers (Donovan, etal, 2015). The process of value chain management is connected with the activities of organization for analyzing them in a proper way. The major objective is to build connection with the leaders at every level to make sure those products are delivered to the consumers flawlessly (Simatupang, Piboonrungroj, and Williams, 2017).
Importance of value chain management in organization
Effective value chain management helps to get better skills to track, capture and organize consumers as well as organization needs for analyzing the activities such as planning, manufacturing, design and services for proper cost valuation besides with complete traceability. It helps in managing research, planning and development in effective manner. For meeting the demand of the customers VCM carry measurable and constant process by which product master data is managed in proper way. Furthermore it helps to improve the management of vendors in better way. Moreover its helps to reduce the costs of business, provides supports and post sales services and besides all it improves the profitability of the company (Simatupang, Ginardy, and Handayati, 2018).
Mission and objectives of the company
The main objective of Treasury Wine Estate Company is to become world’s most famous wine company. They are very much passionate about the wine. They eagerly work for their vision. There are operating more than 14000 hectares of vineyards and managing approx 70 wine brands moreover no of workers employed in the company are 3400. They deal in the most popular wines that come from Italy, Australia, New Zealand and California (Lapsley, Alston, and Sambucci, 2019). Brands with which they are dealing are Wolf Blass, Bringer, Beaulieu Vineyard, Stags' Leap, Penfolds, Lindeman's, Sterling Vineyards, Wynns Coonawarra Estate, 19 Crimes, Castello di Gabbiano and Chateau St. Jean. There various career opportunities for the people in the company (Alves, Fernandes, and Raposo, 2016.).
Mission: The mission of company is to get popular in the whole world and want be get success worldwide. They want to be a source of achievement of their society and want to develop greater career opportunities for their workers. They want to direct their partners into profitability, in returns for their proprietors and make their consumers enjoy its services.
For surviving in the competitive world it is important for the Treasury Wine Estates Limited to make clear basis for differentiation that help to stay confidently next to their rivals. Thus, in order to sustain its position the competitive strategy followed by company is concentrating on unique selling propositions (USPs).USPs has features like lowest cost, highest quality, and exclusive idea. It is not enough to just recognize the USPs because the efficiency of the competitive strategy of company will completely based in the capability of management to converse the recognized unique selling propositions (Yanzheng, Zengxiang,. and Changhong, 2015). Thus, Porter's generic strategies model can be applied by the Treasury Wine Estates Limited to search how competitive advantage can be made.
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