A Value Chain Is a Series of Functional Activities That

question 74

True/False

A value chain is a series of functional activities that convert inputs into finished goods or services that customers value.

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Definitions:

Outsourcing

The business practice of hiring a party outside a company to perform services and create goods that traditionally were performed in-house by the company's own employees and staff.

Incremental Change

Gradual adjustments or improvements made over time to processes, strategies, or products, rather than major transformations or innovations.

Annual Operating Expenses

The total costs associated with running a business, organization, or project within a given fiscal year, excluding the cost of goods sold.

Deejay

A person who selects and plays recorded music for an audience, traditionally in settings like radio stations or nightclubs.