Refer to the Scenario Below to Answer the Following Questions

question 95

Multiple Choice

Refer to the scenario below to answer the following questions.
Value Chain Management (Scenario)
Randy is the new strategic manager for Solutions Tech Inc., a management consulting firm dedicated to assisting small businesses in the pursuit of success. He is currently in a meeting with Rob, who is the owner of a successful small business that creates computer displays for large-scale production facilities. Randy is reviewing the business strategy at Rob's business and has some recommendations.
-Before making any recommendations, Randy informed Rob that a __________ chain is the entire series of organizational work activities that add value at each step beginning with the processing of raw materials and ending with finished product in the hands of end users.

• A) supply
• B) value
• C) transformation
• D) profit
• E) quality

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Definitions:

Family Journal

A personal or collective diary kept by family members documenting their life events, experiences, and histories.

Consumer Markets

Refers to spaces or systems where goods and services are sold by businesses to the end-user, typically for personal or household use.

Economic Activity

Actions that involve the production, distribution, and consumption of goods and services within an economy.

Poverty

The state where an individual or community lacks the financial resources and essentials for a minimum standard of living.