The term value chain refers to the idea that a company is:
A) one of a series of units that comprise an industry segment.
B) the producer of a series of customer-valued products that are linked together.
C) a chain of functional activities that transform inputs into products.
D) one of a series of economic functions.
E) a collection of various products and their attributes.

Question

Quizplus · Accepted Answer

The term value chain refers to the series of functional activities that transform inputs into products, ultimately delivering value to customers. This includes activities such as procurement, production, marketing, and distribution, among others. The value chain concept emphasizes the importance of each activity in contributing to the overall value of the final product or service, and suggests that optimizing these activities can lead to competitive advantage and increased profitability for the company.

The Term Value Chain Refers to the Idea That a Company