The Value Chain Framework Can Be Used to View a Firm

question 46

Multiple Choice

The value chain framework can be used to view a firm as a series, a chain, or a network of basic activities that:

• A) Add value to its products and services, and thus add a margin of value to the firm.
• B) Lower costs along the product development chain.
• C) Create the perception of value and goodwill to employees.
• D) Create a smooth-flowing chain of events between the supplier and the customer.

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Definitions:

Testis

A male reproductive organ responsible for the production of sperm and testosterone.

Umbilical Cord

The flexible cord-like structure connecting a fetus to the placenta, delivering nutrients and oxygen while removing waste.

Chorion

The outermost membrane surrounding an embryo in mammals, birds, and reptiles, contributing to the formation of the placenta in placental mammals.

Amnion

A thin membrane forming a closed sac around the embryo in birds, reptiles, and mammals.