What term describes all business processes associated with providing a product or service?
A) The manufacturing chain
B) The product chain
C) The supply chain
D) The value chain

Question

Quizplus · Accepted Answer

The value chain is a term used to describe all business processes associated with providing a product or service, from raw materials to delivery to the customer. It includes all the activities that add value to the product or service, such as design, production, marketing, and customer service. The value chain concept was introduced by Michael Porter in his book "Competitive Advantage" and has become a widely used framework for analyzing and improving business operations.

What Term Describes All Business Processes Associated with Providing a Product