Introduction to Global Value Chain
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Questions and Answers

What is the primary purpose of a global value chain?

  • To reduce collaboration between businesses and governments.
  • To isolate production to single geographical areas.
  • To gain competitive advantage through a full range of activities. (correct)
  • To increase the cost of goods sold to consumers.
  • How did advancements in technology impact global trade?

  • They fostered connection between people, businesses, and markets. (correct)
  • They elevated trade tariffs globally.
  • They increased isolation of local markets.
  • They reduced the variety of goods available.
  • Who introduced the term 'Value Chain'?

  • Michael E. Porter (correct)
  • Clayton Christensen
  • Henry Mintzberg
  • Peter Drucker
  • What are the two types of activities included in the value chain?

    <p>Primary and support activities</p> Signup and view all the answers

    What does the global value chain help organizations achieve?

    <p>A competitive edge through comprehensive operational activities.</p> Signup and view all the answers

    What does the term 'full range of activities' in global value chains refer to?

    <p>Supply, production, marketing, sales, distribution, and support.</p> Signup and view all the answers

    Which of the following best describes global trade?

    <p>A complex interaction involving multiple stakeholders' interests.</p> Signup and view all the answers

    What sentiment has contributed to the expansion of global trade in recent years?

    <p>A renewed enthusiasm for free trade.</p> Signup and view all the answers

    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.

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