10 Questions
Which component of the value chain involves generating and experimenting with ideas related to new products, services, or processes?
Research and Development (R&D)
What is included in the value chain?
Activities that convert raw materials/resources into goods and services
What are value-added activities in the value chain?
Activities recognized by customers as an added utility to the goods or services they purchased
Which component of the value chain involves activities from research and development through the production process to customer service?
The entire value chain
What do managers evaluate when analyzing the activities in the value chain?
How the activities contribute to the final product's service, quality, and cost
Which component of the value chain involves the treatment or disposal of any waste produced by the end users?
Customer Service
Which component of the value chain involves activities related to generating and experimenting with ideas for new products, services, or processes?
Research and Development (R&D)
Which component of the value chain includes activities related to the actual manufacturing or creation of the goods or services?
Production
Which component of the value chain involves activities related to providing support and assistance to customers after they have purchased the goods or services?
Customer Service
Which component of the value chain involves evaluating activities to determine how they contribute to the final product’s service, quality, and cost?
None of the above
Test your knowledge on value creation in business with this quiz! Learn about the value chain and the activities involved in converting raw materials into goods and services. Explore how businesses can add utility to their offerings and manage waste disposal.
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