Define Value Chain and Explain the Difference Between a Firm

question 2

Essay

Define value chain and explain the difference between a firm value chain, an industry value chain, and a value web.

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Definitions:

Balfour Declaration

A statement issued by the British government in 1917 expressing support for the establishment in Palestine of a "national home for the Jewish people," with the stipulation that nothing should prejudice the civil and religious rights of existing non-Jewish communities.

National Home

A term often associated with the Balfour Declaration of 1917, promising the establishment of a "national home for the Jewish people" in Palestine.

Jews in Palestine

Refers to the historical presence and social, economic, and political activities of Jewish communities in the region now known as Palestine, especially significant regarding the Zionist movement aiming for a Jewish homeland.

Workers Strike

A work stoppage initiated by employees who refuse to work as a form of protest, typically in an attempt to gain higher wages, better working conditions, or other labor concessions from their employers.