The Value Chain Is the Set of Activities Required to Design

question 40

True/False

The value chain is the set of activities required to design, develop, produce, market, and deliver products and service to customers.

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Definitions:

Utility

The total satisfaction or benefit derived by consuming a product or service, used to analyze choices made by consumers to maximize satisfaction.

Planning Fallacy

is the tendency to underestimate the time, costs, and risks of future actions while overestimating the benefits, leading to time and budget overruns.

Underestimate

To judge something below its actual value, size, or importance.

Complete A Task

This means to finish or accomplish a given work or activity usually with a specific goal in mind.