Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is a value chain, according to Professor Michael Porter?
What is a value chain, according to Professor Michael Porter?
- A strategy to compete with other businesses in the market
- A method to increase profitability without changing business operations
- A series of processes undertaken by an organization to manufacture a product or service (correct)
- A way to reduce company costs
Which primary activity involves transforming inputs into outputs?
Which primary activity involves transforming inputs into outputs?
- Marketing and Sales
- Outbound Logistics
- Operations (correct)
- Inbound Logistics
What is the ultimate goal of evaluating a company's value chain?
What is the ultimate goal of evaluating a company's value chain?
- To reduce the number of employees
- To increase the prices of products
- To enhance business efficiency and increase profitability (correct)
- To increase employee salaries
What is the key factor in creating value in Inbound Logistics?
What is the key factor in creating value in Inbound Logistics?
Signup and view all the answers
What represents the profit margin in a company's value chain?
What represents the profit margin in a company's value chain?
Signup and view all the answers
What is the primary goal of a cost leadership strategy?
What is the primary goal of a cost leadership strategy?
Signup and view all the answers
What is the purpose of conducting a value chain analysis?
What is the purpose of conducting a value chain analysis?
Signup and view all the answers
What is the primary focus of Technological Development in the value chain?
What is the primary focus of Technological Development in the value chain?
Signup and view all the answers
What is the main difference between a cost leadership strategy and a differentiation strategy?
What is the main difference between a cost leadership strategy and a differentiation strategy?
Signup and view all the answers
What is the role of Human Resource Management in the value chain?
What is the role of Human Resource Management in the value chain?
Signup and view all the answers
