The ________ encompasses all the activities a firm does to create products and services that in turn create value for the consumer and make a profit for the company.

Question

Quizplus · Accepted Answer

The concept of value chain was introduced by Michael Porter and it encompasses all the activities a firm does to create products and services that in turn create value for the consumer and make a profit for the company. It includes activities such as inbound logistics, operations, outbound logistics, marketing and sales, and after-sales service. Channels of distribution, goods supplying chain, industrial network, and retailer chain are all part of the value chain, but they do not fully encompass all the activities involved in creating value.

The ________ Encompasses All the Activities a Firm Does to Create