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Entrepreneurs work tirelessly in trying to make products and services that meet different consumer needs. They ensure that their commodities are of high quality and are sold at the mostly affordable prices. The value chain involves adding some value to items obtained from various suppliers of a company and reselling them to others in the chain such as distributors and consumers. For an enterprise to operate profitably, it has to put in place measures aimed at minimizing its expenditures in providing services that are not paramount or core to the business. For instance, a hotel is involved mainly in cooking meals and providing beverages to consumers. There are support services such as provision of various ingredients which comprise such meals. Since the core business of the hotel is to prepare meals, outsourcing the provision of such services is the best option mainly because the supplier has all the resources required to fully execute such duties. Resorts enter into agreements with vendors for long term food supply. Continue reading →