Overview
Global Value Chains (GVCs) are essential frameworks that illustrate how products are created and delivered in a globalized economy. They involve multiple stages, from raw material sourcing to final product delivery, often crossing international borders. Understanding GVCs helps businesses optimize t...
Key Terms
Example: The supply chain for a smartphone includes raw material suppliers, manufacturers, and retailers.
Example: A company may outsource its customer service to a third-party provider.
Example: Manufacturing products in China instead of the home country.
Example: NAFTA is a trade agreement between the U.S., Canada, and Mexico.
Example: Turning raw cotton into finished clothing adds value.
Example: Employees, customers, and suppliers are all stakeholders.