The Value Chain Model

question 54

Multiple Choice

The value chain model:

• A)categorizes five related advantages for adding value to a firm's products or services.
• B)sees the supply chain as the primary activity for adding value.
• C)categorizes four basic strategies a firm can use to enhance its value chain.
• D)highlights specific activities in the business where competitive strategies can best be applied.
• E)enables more effective product differentiation.

---

Definitions:

Employee Referrals

A hiring method where current employees recommend candidates for open positions within the organization, often rewarded with incentives for successful hires.

Hiring Volume

The quantity or number of positions a company or organization aims to fill within a certain timeframe, indicating the scale of recruitment activity.

Retention

The ability to keep or hold on to information, people, or objects over a period of time.

Organizational Socialization

The process by which a new employee learns the values, skills, behaviors, and social knowledge necessary for successful integration into an organization.