Which one of the following is a primary activity in the value chain
Which of the following is a primary activity in the value chain?a) purchasing Show
The Correct Answer for the given question is option c) post-sales service Answer ExplanationValue ChainA value chain refers to the series of activities performed by a firm in a specific industry to produce a valuable product (good and/or service) for the customer. In his book Competitive Advantage: Creating and Sustaining Superior Performance, Harvard Business School professor Michael Porter introduced the value chain concept for the first time in 1985. An organization can be viewed as a system based on its value chain, which is composed of subsystems each with inputs, transformation processes, and outputs. Organizations can identify and group their own business functions into primary and secondary activities with the help of value chain models. Organizations can better understand value chains by analyzing activities, subactivities, and their relationships. Each activity or subactivity can be analyzed to determine whether the output of each can be improved while keeping in mind the cost, time and effort they require. Analyzing value
chains from an organization’s own perspective is called a value chain analysis. Benefits of Value Chain AnalysisBy understanding and evaluating value chains, organizations can recognize positive and negative cost efficiency sources. The following are some benefits of value chain analysis:
Primary activities in the Value ChainThe creation, sale, maintenance, and support of a product or service are the primary activities. These activities include: Inbound operations:Managing and handling resources provided by external sources — such as vendors and supply chains. Inputs are outside resources that flow into the system. Raw materials are sometimes included. Operations: The process of transforming inputs into “outputs,” that is, the product or service that a business sells. A core product is any product that can be sold at a higher price than the cost of materials and production to generate a profit. Outbound logistics: Outputs are delivered to customers. These processes involve systems for storing, collecting, and distributing products to customers. Managing internal company systems and systems from external organizations is part of this process. Marketing and sales:The practice of increasing visibility, reaching marketing audiences, and explaining to consumers why a product or service is worth buying. These services include advertising and brand-building. Service: Activities that encourage a long-term relationship with customers who have purchased a product or service, including customer service and
product support. You may also Like:
#Which of the following is a primary activity in the value chain? VCEguide gives free questions, answers and explanations for such certifications as CCNA, CCNP, Azure, A+, Network+, Security+, IBM, VMware...Learn and Pass IT Certification Exams Easily. We does not offer real Microsoft - CompTIA - Amazon - Cisco - Oracle Exam Questions. CFA Institute does not endorse, promote or warrant the accuracy or quality of VCEguide. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. VCEguide does not offer exam dumps or questions from actual exams. We offer learning material and practice tests created by subject matter experts to assist and help learners prepare for those exams. All certification brands used on the website are owned by the respective brand owners. VCEguide does not own or claim any ownership on any of the brands. Which of the following is a primary value chain activity quizlet?The value chain categorizes the generic value-adding activities of an organization. The "primary activities" include: inbound logistics, operations (production), outbound logistics, marketing and sales, and services (maintenance).
What is an example of a value chain activity?The activities associated with this part of the value chain are providing service to enhance or maintain the value of the product after it has been sold and delivered. Examples: installation, repair, training, parts supply and product adjustment.
What is a value chain activity?The term value chain refers to the various business activities and processes involved in creating a product or performing a service. A value chain can consist of multiple stages of a product or service's lifecycle, including research and development, sales, and everything in between.
Which of the following is an example of a primary activity of a business?The primary activities focus on developing products, distributing them and offering after-sale services on these products. Generally these activities include inbound and outbound activities, operations, marketing and sales and after-service activities.
|
