A Value Chain Is the Sequence of Business Processes in Which

question 54

Essay

A value chain is the sequence of business processes in which value is added to a product or service. Consider a manufacturing company that produces and sells dog food. Match each business activity listed on the left with the element of the value chain that best describes it. Each item has only one correct answer.
$\begin{array}{|l|l|}\hline \text { Advertising products to consumers } & \text { Supplier and raw material management } \\\hline \begin{array}{l}\text { Combining material, labour and overhead to } \\\text { produce dog food }\end{array} & \text { Research and development } \\\hline \begin{array}{l}\text { Responding to internet enquiries for new } \\\text { flavours. }\end{array} & \text { Customer service } \\\hline \begin{array}{l}\text { Enforcing time and quality standards for } \\\text { raw material suppliers }\end{array} & \text { Product manufacture } \\\hline \begin{array}{l}\text { Investigating ways to develop a range of cat } \\\text { food }\end{array} & \text { Product and process design } \\\hline \begin{array}{l}\text { Implementing a new quality assurance } \\\text { process. }\end{array} & \text { Marketing and sales } \\\hline \begin{array}{l}\text { Selecting retailers to sell dog food to end } \\\text { consumers }\end{array} & \text { Distribution management } \\\hline\end{array}$

---

Definitions:

Predicted Outcome

A predicted outcome is the expected result of an experiment or model, often based on theoretical insight or previous data.

Hasty Generalization

A fallacy in which a conclusion is not logically justified by sufficient or unbiased evidence.

Composition

The act of combining parts or elements to form a whole; in logic, the fallacy of assuming that what is true of the part is true for the whole.

Fallacy Of Division

The erroneous reasoning that what is true of the whole must also be true of its parts.