Refer to the scenario below to answer the following questions.
Value Chain Management (Scenario)
Randy is the new strategic manager for Solutions Tech Inc., a management consulting firm dedicated to assisting small businesses in the pursuit of success. He is currently in a meeting with Rob, who is the owner of a successful small business that creates computer displays for large-scale production facilities. Randy is reviewing the business strategy at Rob's business and has some recommendations.
-Before making any recommendations, Randy informed Rob that a __________ chain is the entire series of organizational work activities that add value at each step beginning with the processing of raw materials and ending with finished product in the hands of end users.
A) supply
B) value
C) transformation
D) profit
E) quality

Question

Quizplus · Accepted Answer

Randy specifically mentions "organizational work activities that add value at each step", which is a key characteristic of a value chain. Supply chain refers to the series of activities involved in the production and delivery of products or services, transformation chain is not a commonly used term, profit chain refers to the relationship between customer loyalty, employee satisfaction, and profitability, and quality chain is not a term used in business management.

Refer to the Scenario Below to Answer the Following Questions