False. The value chain concept can be applied to basically any firm.
What is value chain concept?
A value chain is a concept that describes every step of a company's operations in the development of a good or service, from the acquisition of raw materials through the final delivery to the customer.
The value chain framework consists of four secondary activities, procurement and purchasing, human resource management, technological development, and business infrastructure, in addition to five primary activities: inbound operations, outbound logistics, marketing and sales, and service.
When a company determines its major, secondary, and related operations and sub-activities and assesses the effectiveness of each point, this is known as a value chain analysis.
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