10 Questions
What is a value chain, according to Professor Michael Porter?
A series of processes undertaken by an organization to manufacture a product or service
Which primary activity involves transforming inputs into outputs?
Operations
What is the ultimate goal of evaluating a company's value chain?
To enhance business efficiency and increase profitability
What is the key factor in creating value in Inbound Logistics?
Supplier relationships
What represents the profit margin in a company's value chain?
Value created and captured
What is the primary goal of a cost leadership strategy?
To become the lowest-cost provider in an industry or market
What is the purpose of conducting a value chain analysis?
To understand the relationships between different activities and areas in the business
What is the primary focus of Technological Development in the value chain?
Developing and automating production procedures
What is the main difference between a cost leadership strategy and a differentiation strategy?
The pricing strategy
What is the role of Human Resource Management in the value chain?
Hiring and keeping workers engaged
Discover the concept of value chain, a business model that describes the complete set of activities and processes in making a product or service. Learn how evaluating a company's value chain can enhance business efficiency and increase profitability.
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