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Value Chain Competitiveness Quiz

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Questions and Answers

What is the purpose of competitive strategy in value chain analysis?

To increase partner performance

To improve product quality

To enhance consumer loyalty

To respond quickly and effectively to market forces (correct)

Which step of the value chain analysis involves identifying the value addition activities undertaken to deliver a product or service?

Competitive Strategy

Value Analysis

Evaluation and Planning

Activity Analysis (correct)

How does value analysis contribute to value chain analysis?

By enhancing partner performance

By adding the greatest value for the customer (correct)

By reducing costs

By improving product quality

Which of the following is NOT a consideration for motivation within the value chain analysis according to the text?

Recruiting experienced employees Signup and view all the answers

In value chain analysis, what is one way to enhance productivity according to the text?

Keeping up to date with efficient techniques Signup and view all the answers

What is a key aspect of competitive advantage as mentioned in the text?

Improving product quality Signup and view all the answers

Which step of the value chain analysis involves formulating strategies and managing interrelationships along the activities?

Competitive Strategy Signup and view all the answers

How can a firm create competitive strategy through value chain analysis?

Through integrating activities that respond quickly to market forces Signup and view all the answers

What could be a consequence of ignoring customer needs in the value chain analysis process?

Decreased competitiveness Signup and view all the answers

Which element is crucial for enhancing consumer loyalty in the context of value chain analysis?

Improving response to customer needs Signup and view all the answers