The sequence of all activities that are performed by a firm to turn raw materials into a finished product that is sold to a buyer best describes the term _________.
A)product line
B)task specialization
C)virtuous circle
D)value chain

Question

Quizplus · Accepted Answer

The term that best describes the sequence of activities performed by a firm to turn raw materials into a finished product that is sold to a buyer is "value chain." The value chain includes all the activities involved in creating a product, from research and development to manufacturing, marketing, and distribution. A value chain approach involves analyzing these activities to determine how they add value to the final product and how they can be improved to increase efficiency and effectiveness.

The Sequence of All Activities That Are Performed by a Firm