Value-Chain Analysis Can Be Used to Determine If a Business

question 56

Multiple Choice

Value-chain analysis can be used to determine if a business is adding unique value in which of the following areas?

• A)product research
• B)human resources
• C)process innovation
• D)quality management
• E)all of the above

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Definitions:

Monopolistic Competition

A market structure in which many firms sell products that are similar but not identical, allowing for competition based on quality, price, and branding.

Goods Offered

The products made available to consumers in the market, including tangible items that satisfy needs or wants.

High Start-Up Costs

The significant initial investment required to establish a new business, which can include expenses related to research and development, manufacturing, marketing, and administrative infrastructure.

Few Competitors

A market condition where only a small number of firms operate, often leading to higher prices and reduced competition.