This document discusses value chain analysis and provides examples of industry and company value chains. It analyzes Walmart's value chain by breaking down its key value-creating activities and the associated costs as percentages of sales. These activities include inbound logistics, operations, marketing, shrinkage, salaries/wages, and cost of goods sold, with the latter accounting for around 74% of sales on average. The document aims to help understand how deconstructing a company's value chain can create competitive advantage.