Managers Often Break Activities into Four Groups for Value Chain

question 40

Multiple Choice

Managers often break activities into four groups for value chain analysis. Which of the following is not an activity category among those four groups?

• A) Unnecessary activities that cannot be eliminated
• B) Necessary activities that could be changed to improve the process
• C) Necessary activities that cannot be improved upon at this time
• D) Unnecessary activities that can be eliminated quickly

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Definitions:

True Value

The actual, inherent worth of an item or phenomenon, often considered in contrast to its market value or perceived value.

Bidders

Individuals or entities that offer to pay a certain price for goods, services, or assets in an auction or competitive bidding process.

Common-value Auction

An auction format where the item for sale has a value that is essentially the same for all bidders, but the bidders may have different information about that value.

Oral Auctions

Auctions where bids are made verbally, allowing for real-time, competitive bidding among participants.