He formed the concept of the value chain, essentially the sequence of steps with which a, shall we say, raw material, becomes a component, becomes assembled into a finished product, and then is distributed, for example, and he argued that advantage accrued to each of those components, and that the advantage of the whole was in some sense the sum or the average of that of its parts.
Han etablerede konceptet om værdikæden, essentielt de trin, med hvilke et, skal vi sige, råmateriale, bliver en komponent, bliver samlet til et færdigt produkt, og så er distribueret, for eksempel, og han argumenterede for at fordele tilskrives til hver af disse komponenter, og at fordelen af det hele var i et vist henseende, summen eller gennemsnittet af dets dele.