A Useful Way to Understanding the Purpose of Strategy Is

question 82

Multiple Choice

A useful way to understanding the purpose of strategy is to think of the firm as a(n) ________, composed of a series of distinct activities, including production, marketing, materials management, R&D, human resources, information systems, and the firm infrastructure.

• A)activity network
• B)value constellation
• C)task succession
• D)value chain

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Definitions:

Production Processes

The methods, techniques, and sequences involved in manufacturing a product or providing a service from raw materials or inputs.

Price Discrimination

A practice whereby a seller charges different consumers different prices for the same product or service.

Patents

Legal rights granted to inventors, giving them exclusive rights to make, use, or sell their inventions for a certain period.

Diseconomies of Scale

A situation in which a firm's production costs increase as it produces more, leading to less efficiency.