The term value chain refers to the idea that a company is:
A) one of a series of units that comprise an industry segment.
B) the producer of a series of customer-valued products that are linked together.
C) a series of activities that transform inputs into products that customers value.
D) one of a series of economic functions.
E) a collection of various products and their attributes.

Question

Quizplus · Accepted Answer

The term value chain refers to the series of activities that a company goes through to transform inputs into a product or service that customers value. This includes everything from sourcing raw materials to marketing and distribution. The value chain concept is useful for analyzing a company's operations and identifying ways to increase efficiency and create more value for customers.

The Term Value Chain Refers to the Idea That a Company