I have been working on developing an E-Learning Strategy and ran across a great diagram for the E-Learning value chain on the web. I traced it back to a free Ebook called Theory and Practice of Online Learning from Athabasca University. The first edition of this book does a great job of describing the value chain in Chapter 3: Value Chain Analysis: A Strategic Approach to Online Learning.
Please note a second edition of this book is also available. with updated content