A network of value-creating activities is called a
A) business strategy.
B) value network.
C) value chain.
D) competitive advantage.
E) primary value activities.

Question

Quizplus · Accepted Answer

A value chain is a series of interconnected activities that aim to create and deliver a product or service to a customer. This concept was introduced by Michael Porter in his book "Competitive Advantage." The value chain consists of primary activities, such as inbound logistics, operations, outbound logistics, marketing and sales, and service, as well as support activities, such as procurement, technology development, and human resource management. The value chain helps firms to identify the activities that add value and those that do not, and to optimize the overall performance of the business by reducing costs and increasing differentiation.

A Network of Value-Creating Activities Is Called a