What Is the Difference Between Primary and Secondary Activities in the Value

question 86

Essay

What is the difference between primary and secondary activities in the value chain? Describe the functions of configuration and coordination in these value activities.

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Definitions:

Financial Resources

The funds used to acquire the natural and human resources needed to provide products; also called capital.

Primary Funding

Primary Funding refers to the initial capital raised by a business or project from various sources such as equity, debt, or grants to finance its startup and initial operations.

Operations

The day-to-day activities involved in managing and controlling the processes of production or provision of services in an organization.

Human Relations Skills

The ability to deal with people, both inside and outside the organization.