Examlex
Simplify. Assume all variables represent positive real numbers.
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Value Chain
The sequence of activities carried out by organizations to create valued goods and services to consumers.
Open System Chain
A concept in systems theory referring to the interconnectedness and interaction between a system and its external environment, allowing for exchange of information, energy, and materials.
Production
refers to the process of creating goods and services through the combination of human labor, materials, and technology.
Globalization
The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness.
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