Of All the Value Creation Activities in a Firm, ________

question 34

Multiple Choice

Of all the value creation activities in a firm, ________ creates value by discovering consumer needs and communicating them back to the R&D function of the company, which can then design products that better match those needs.

• A) production
• B) marketing and sales
• C) its human resources
• D) logistics
• E) its information system

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Definitions:

Probability

A measure of the likelihood that a certain event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Sales

The exchange of a commodity for money; the action of selling something.

Poisson Approximation

A statistical technique used to estimate the probability of a given number of events happening in a fixed interval of time or space, assuming these events occur with a known constant mean rate and independently of the time since the last event.

Flat Tire

A condition where a tire loses all or most of its air, causing it to be incapable of functioning properly.