The value chain describes the
A) competitive challenges a firm faces in a highly dynamic external environment.
B) internal activities a firm engages in when transforming inputs into outputs.
C) current consequences a firm experiences due to its decisions in the past.
D) strategic advantages a firm experiences when its resources lack causal ambiguity.

Question

Quizplus · Accepted Answer

The value chain describes the internal activities a firm engages in when transforming inputs into outputs. Each activity the firm performs along the horizontal chain adds incremental value-raw materials and other inputs are transformed into components that are finally assembled into finished products or services for the end consumer.

The Value Chain Describes the