Podcast
Questions and Answers
What is the primary purpose of a global value chain?
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?
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'?
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?
What are the two types of activities included in the value chain?
What does the global value chain help organizations achieve?
What does the global value chain help organizations achieve?
What does the term 'full range of activities' in global value chains refer to?
What does the term 'full range of activities' in global value chains refer to?
Which of the following best describes global trade?
Which of the following best describes global trade?
What sentiment has contributed to the expansion of global trade in recent years?
What sentiment has contributed to the expansion of global trade in recent years?
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.
