Value Chain Analysis can enable a firm to better identify its own strengths and weaknesses especially as compared to competitors' value chain analyses.

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Value Chain Analysis involves evaluating every stage in a company's production process, from material sourcing to product delivery, to identify areas of weakness and opportunity for improvement. By comparing its own analysis to those of its competitors, a firm can gain insight into its relative strengths and weaknesses in the industry, which can inform strategic decision-making. Therefore, the statement is true.

Value Chain Analysis Can Enable a Firm to Better Identify