The network of activities that improves the effectiveness of a good or service is called
A) a value chain.
B) a supplier network.
C) competitive strategies.
D) a supply chain.
E) a value web.

Question

Quizplus · Accepted Answer

A value chain is the network of activities involved in the creation and delivery of a product or service. It includes all the phases from raw materials to final consumption, and each activity adds value to the product. The goal is to optimize the value creation process and reduce costs, leading to better customer satisfaction and competitive advantage. A value chain includes suppliers, manufacturers, distributors, retailers, and other stakeholders. It is a useful framework for analyzing business processes and identifying opportunities for improvement.

The Network of Activities That Improves the Effectiveness of a Good