Value Chain Flashcards
1
Q
What is the value chain?
A
The sequence of business activities by which value is added to the products or services by an entity
2
Q
What are the primary activities in the value chain?
A
1) Inbound Logistics
2) Operations
3) Outbound Logistics
4) Marketing and Sales
5) Service
3
Q
What are the support activities in the value chain?
A
1) Firm infrastructure
2) Human Resource Management
3) Technology Development
4) Procurement
4
Q
What can be gained from value chain analysis
A
Firms can identify areas of “value-add” and maximise these activities. They can identify weaknesses within the business that can be improved upon.
