The computer microchip industry, in particular, is very competitive. Whenever a new microchip comes into the marketplace, the makers of clone microchips release a clone microchip that is almost as good as the original but priced considerably lower.
Consider the following scenario:
The Smart Chips Company specializes in developing first-of-its-kind microchips; yet, its market share has been hurt by clone microchips. Use the library, course materials, and other credible sources to research the concept of Michael Porter's Value Chain Management.
Respond to the following:
What other management concept(s) covered in this course would be helpful to Smart Chips? How would you incorporate them into the Smart Chip's culture?