What is the term used to describe the full range of an organisation and how value is added to it?
Understand the Problem
The question is asking for a specific term related to organizational management that describes the complete spectrum of an organization and how value is generated within it. This pertains to concepts commonly discussed in business strategy and management.
Answer
Value chain
The term used to describe the full range of an organization's activities and how value is added to it is 'value chain'.
Answer for screen readers
The term used to describe the full range of an organization's activities and how value is added to it is 'value chain'.
More Information
The value chain is a concept that outlines how businesses create a product or service. It includes stages from the initial idea to production, and finally, to the delivery to customers. This concept helps businesses identify areas where value can be added and any inefficiencies that can be improved.
Sources
- What is a value chain? Definitions and characteristics - cisl.cam.ac.uk
- What is a value chain and why is it important? - TechTarget - techtarget.com
- A value chain is the full range of activities needed - Investopedia - investopedia.com
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