A Supply Chain Differs from a Value Chain in That

question 44

Multiple Choice

A supply chain differs from a value chain in that:

• A)It consists of upstream business activities
• B)It consists of downstream business activities
• C)It is a cooperative effort
• D)It considers designing the product
• E)It uses a decision tree

Realize the significance of word-of-mouth in acquiring new customer relationships.

Understand how net promoter scores indicate customer satisfaction and its impact on profitability.

Acknowledge the comparative profitability of long-term versus short-term customer relationships.

Identify key components necessary for calculating customer lifetime value.

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Definitions:

Acceptance

In contract law, it's the expression of agreement to the terms of an offer, which then creates a legally binding contract.

UCC

The UCC serves as an extensive legal base for regulating commercial transactions of all kinds across the United States.

Mirror Image

In contract law, this principle states that an acceptance of an offer must not change the terms of the original offer for a valid contract to be formed.

Material Terms

Critical and essential components of a contract that specify the rights and obligations of the parties involved, impacting the performance and outcome of the contract.