30 Questions
What does a value chain analysis facilitate?
Comparison of how effectively and efficiently a firm delivers value to its customers.
What is the purpose of separating a firm's operations into primary and secondary activities during value chain analysis?
To identify major components of the internal cost structure.
How is activity-based costing utilized in value chain analysis?
To evaluate activities and determine their costs.
In an industry value chain, what does the internal value chain of a company include?
Everything the company does itself, from supplies to selling finished products.
How do costs and profit margins of suppliers and channel partners impact end consumers?
By influencing prices due to added profit along the chain.
What is the main objective of conducting a value chain analysis for significant competitors?
To compare cost structures with competitors.
What is the primary activity in Everlane's value chain that involves transforming raw materials into a finished product?
Operations
Which activity in the Everlane value chain includes activities such as receiving, storing, and managing raw materials for denim?
Inbound logistics
Which of the following is considered a secondary activity in a value chain based on the provided information?
Customer service
In the Everlane value chain, which activity covers how the finished product is delivered to the customer?
Outbound logistics
Which activity could Everlane potentially reduce costs in without compromising its competitive strength?
Inbound logistics
What could be a strategic focus area for Everlane to maintain cost-effectiveness according to the information provided?
Optimizing inbound logistics efficiency
What external factor involves taking advantage of failing trade barriers in attractive foreign markets?
Restrictive foreign trade policies
How can a company capitalize on competitor problems according to the text?
By trying to win over struggling competitor's customers
Which external factor poses a threat due to adverse economic conditions affecting critical suppliers or distributors?
Adverse economic conditions
What can be done to innovate based on emerging technological developments?
Enter into alliances or other cooperative ventures
How do costly new regulatory requirements impact a company's operations?
By affecting the company's competitiveness
What external challenge arises from tight credit conditions, making loans harder to obtain?
Adverse demographic changes
What is the primary focus of the marketing and sales activities mentioned in the text?
Getting customers to buy the product
Which of the following is considered a secondary activity in Everlane's value chain?
Developing machinery for production
What is included in the procurement activity of Everlane's value chain?
Purchasing materials like denim and hardware
Which activity is part of firm infrastructure in Everlane's value chain?
Managing company's physical facilities and information systems
Which activities are relevant to the entire industry value chain according to the text?
Activities of Everlane's suppliers, distributors, and retailers
What is the main purpose of technology development and acquisition in Everlane's value chain?
Developing or acquiring the technology needed to operate the business
What is the main reason for collecting competitive intelligence to accurately benchmark delivered costs in the solar industry?
To track industry trends
Which principle emphasizes the importance of keeping business activities legal?
Principle of Legality
What does the Principle of Exchange in business ethics primarily focus on?
Making fair exchanges with others
Which principle is associated with handling sensitive information with care and trust?
Principle of Confidentiality
Why is the Principle of Preparation significant in ethical business behavior?
To plan and execute business activities responsibly
Which ethical principle involves engaging with individuals outside the primary parties involved in a transaction?
Principle of Third Party Contact
Test your knowledge on identifying a company's strengths, weaknesses, opportunities, and threats based on external factors such as shifts in buyer needs, evolving customer preferences, and adverse demographic changes. The quiz also covers strategies to take advantage of emerging market opportunities and mitigate external threats.
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