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:

Tolerance

Tolerance is the capacity to endure pain or hardship, or in pharmacology, it refers to the body's adaptation to a drug which reduces its effects over time.

Quarrelsomeness

The tendency to engage in arguments or disputes easily, often with a hostile attitude.

Mood Swings

Rapid and often extreme fluctuations in one's emotional state, where feelings can change from highs (euphoria) to lows (despair) quickly or without apparent reason.

Impaired Mental

Refers to a reduction in cognitive functioning that affects processes such as memory, reasoning, and problem-solving.