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Questions and Answers
What does a virtual value network consist of?
What does a virtual value network consist of?
- A series of market partners working together as a virtual unit (correct)
- A series of independent market partners
- A single company working independently
- A network of physical market locations
What enables 'Virtual Enterprises' in the context of the characteristics mentioned?
What enables 'Virtual Enterprises' in the context of the characteristics mentioned?
- Advanced marketing strategies
- Financial investments
- Traditional business models
- Information technology (correct)
What is a key characteristic of a virtual enterprise?
What is a key characteristic of a virtual enterprise?
- No collaboration between participating companies
- Independent operation of participating companies
- Temporary merger of core competencies of participating companies (correct)
- Permanent merger of participating companies
What does the consolidation framework for business process design aim to achieve?
What does the consolidation framework for business process design aim to achieve?
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What is a result of fast material, information, and cash flows in the context of the characteristics mentioned?
What is a result of fast material, information, and cash flows in the context of the characteristics mentioned?
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Study Notes
Value Creation Models
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Traditional Value Creation (Goods-Dominant Logic, GDL)
- Value generated during manufacturing and provided to customers through transactions.
- Focuses on Value-in-Exchange and is consumed by customers.
- Aims to standardize products, services, and processes to reduce costs.
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Value Co-Creation (Service-Dominant Logic, SDL)
- Value offers are generated and provided to customers during product usage (Value-in-Use).
- Emphasizes continuous value generation by customers through service engagement.
- Seeks to integrate resources from both providers and customers to enhance value creation.
Information Technology and Value Networks
- Information technology facilitates the development of a "Value Network".
- A Value Network is a business design leveraging digital supply chain concepts.
- Objectives include maximizing customer satisfaction and profitability.
- Major competitive factors include time responsiveness and flexibility.
- The main goal is to swiftly and adaptively respond to customer requirements.
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