Using value-chain analysis, a firm can develop a competitive advantage by specifically looking for ways to:
A)Add value and reduce cost.
B)Improve manufacturing productivity.
C)Improve customer service.
D)Improve product quality.
E)Reduce organizational risk.

Question

Quizplus · Accepted Answer

Value-chain analysis involves examining each step or stage of a firm's production process and identifying opportunities to add value or reduce costs. By doing so, a firm can develop a competitive advantage over its rivals. While improving manufacturing productivity, customer service, product quality, and reducing organizational risk are all important goals, they are all subsumed under the broader goal of adding value and reducing costs. Therefore, a firm can best develop a competitive advantage by focusing on adding value and reducing costs.

Using Value-Chain Analysis, a Firm Can Develop a Competitive Advantage