The Value Chain Framework Can Be Used to View a Firm

question 44

True/False

The value chain framework can be used to view a firm as a series, a chain, or a network of basic activities that add value to its products and services, and thus add a margin of value to the firm.

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Definitions:

Consciously

Refers to actions or processes that are done with awareness, being fully perceptible by the mind.

External

Relating to the outside or external part of something, often concerning influences or conditions that come from outside an individual or system.

Asch's Study

A series of experiments by Solomon Asch that demonstrated the power of conformity in groups, where individuals often agreed with an incorrect majority.

Conformity

The act of adjusting one's behavior or beliefs to match those of others, often as a response to real or imagined group pressure.