The Goal of Value Chain Analysis Is to Identify Processes

question 102

Multiple Choice

The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself,with a ________ or ________________.

• A) focused strategy, product differentiation
• B) focused strategy, cost advantage
• C) cost advantage, primary value activities
• D) cost advantage, product differentiation

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Definitions:

Price Signals

Indications to consumers and producers about the scarcity or abundance of a good or service, guiding their economic decisions.

Centrally Planned Economies

Economies where the government or central authority makes all the decisions about what goods and services are produced, how they are produced, and who gets them.

Innovation Lagged

A situation where there is a delay or time lag between the development of a new technology or idea and its implementation or widespread use.

Production Targets

Specific goals set for the quantity of products to be produced within a certain time frame.