The chain of activities by which a good or service is produced, distributed, and marketed. Each step of the chain (which may consist of the activities of one company or of several) creates different amounts of value for the consumer. The principle underlying the value-chain concept is that a company should examine its costs and performance at each stage and decide, among other things, whether it is best to carry out a particular stage in house or externally. The value chain can provide the basis for a strategic analysis in terms of the search for competitive advantage.

• first mortgage debenture
• first notice day
• first of exchange
• first preferred stock
• first-tier stock market
• first-year allowance
• fiscal agent
• fiscal drag
• fiscal policy
• fiscal year
• Fisher effect
• Fitch's Investors' Service
• fixed asset
• fixed capital
• fixed capital formation
• fixed charge
• fixed-charge-coverage ratio
• fixed debenture
• fixed exchange rate
• fixed-for-fixed
• fixed-for-floating
• fixed-interest security
• fixed-price tender
• fixed-price tender offer
• fixed rate