The traditional value chain is a hierarchical ordering of inputs that results in the ability of one firm - a manufacturer of automobiles, for example - to offer a finished product directly to consumers. The market is characterized by two distinct lines of business relationships: the vertical relationship between input suppliers and product manufacturers, and the horizontal relationship across the market in which the manufacturers compete against one another. Although the traditional value chain has not been replaced, today's broadband marketplace is witnessing the rise of an alternative structure - the “value circle."
