Which principal aspect of a firm can be viewed as a value chain in Michael Porter's work?

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In Michael Porter's work, operations can be viewed as a value chain. The value chain concept identifies specific activities that contribute to the creation of a product or service, and operations is one of the key activities that determine the quality, efficiency, and cost-effectiveness of the production process. Other aspects, such as strategy, structure, and systems, may also contribute to the overall functioning of the firm, but they are not considered as a value chain in Porter's framework.

Which Principal Aspect of a Firm Can Be Viewed as a Value