Which of the Following Terms Is a Concept,developed by Michael

question 24

Multiple Choice

Which of the following terms is a concept,developed by Michael Porter,which describes the activities within firms and across firms that add value along the way to the ultimate transacted good or service?

• A)Five forces
• B)Value creation
• C)Value chain
• D)Consumer surplus
• E)Producer surplus

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Definitions:

Early Retirement

An option that allows employees to retire before the traditional retirement age, often with a proportionately reduced pension benefit.

Part-time Workers

Employees who work fewer hours than a full-time schedule, typically under 35 hours a week.

Labour Costs

The total financial costs associated with employing workers, including wages, salaries, benefits, and other related expenses.

Human Resource Demand

The total number of workers that organizations need to carry out their business operations effectively.