Which of the following is true of a value chain?
A)It is a network of value-creating activities.
B)It consists of only primary activities.
C)It is specific to manufacturing industries.
D)It nullifies the importance of support activities.

Question

Quizplus · Accepted Answer

A value chain is a network of activities that add value to a product or service. It includes both primary activities (such as production, marketing, and distribution) and support activities (such as logistics, procurement, and technology development). The concept of value chain applies not just to manufacturing industries but also to service industries. Therefore, option B and C are not correct. Option D is also not correct as both primary and support activities are important for creating value.

Which of the Following Is True of a Value Chain