"Slicing Up the Value Chain" Refers to Dividing

question 35

Multiple Choice

"Slicing up the value chain" refers to dividing:

• A) production between foreign operations using unskilled labor and domestic operations using skilled labor.
• B) production between component production and assembly operations.
• C) labor between domestic unskilled and skilled labor.
• D) the marketing and sales and R&D functions.

Understand the differences between different types of costs (variable, fixed, marginal, and incremental).

Grasp the concepts of financial, accounting, and cash break-even points.

Understand the importance and methodology of scenario and sensitivity analysis in project management.

Learn about the methods and benefits of "What-If" analysis in evaluating project risks and outcomes.

---

Definitions:

Wage Inversion

A scenario where newer employees receive higher wages than their more experienced counterparts, often due to market demand or inflation.

Y2K Problem

Refers to a widespread computer bug that was predicted to cause systems to fail at the turn of the millennium because many programs represented years with only two digits.

Wage-Rate Compression

A situation where the differences in pay between different jobs or levels of responsibility decrease, often due to external pressures on wages or internal equity concerns.

Employment Standards

Regulations that define the minimum terms of employment, including hours, pay, leave entitlements, and working conditions.