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Questions and Answers
What is the primary purpose of a global value chain?
How did advancements in technology impact global trade?
Who introduced the term 'Value Chain'?
What are the two types of activities included in the value chain?
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What does the global value chain help organizations achieve?
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What does the term 'full range of activities' in global value chains refer to?
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Which of the following best describes global trade?
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What sentiment has contributed to the expansion of global trade in recent years?
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Study Notes
Introduction to Global Value Chain
- Global trade involves a convergence and conflict of interests across different stakeholders, including businesses, governments, and individuals.
- Advancements in technology, globalization, and free trade sentiments have connected people, businesses, and markets globally, expanding trade and investment.
- The term "value chain" was introduced by Michael E. Porter in 1985, highlighting the importance of optimizing activities for competitive advantage.
Global Value Chain
- A global value chain involves an organization performing a full range of activities, including supply, production, marketing, sales, distribution, and support across geographical locations to gain a competitive edge.
Value Chain Framework
- Primary Activities are directly involved in creating and delivering a product or service, encompassing inbound logistics, operations, outbound logistics, marketing and sales, and service.
- Support Activities support the primary activities, including procurement, technology development, human resource management, and infrastructure.
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Description
Explore the concept of the global value chain and its significance in modern trade. Understand how businesses optimize activities to maintain a competitive advantage across various geographical locations. This quiz will cover key concepts, frameworks, and activities that define global trade.
