R&D, production, and customer service are business functions that are all included as part of:
A)the value chain
B)benchmarking
C)marketing
D)the supply chain

Question

Quizplus · Accepted Answer

The value chain encompasses all activities or functions that add value to a product or service, from R&D, production, marketing, and customer service to logistics, distribution, and after-sales support. Therefore, A is the best choice as it includes all the business functions mentioned in the question.

B) Benchmarking is a process of comparing a company's performance against industry standards or best practices in the pursuit of continuous improvement. While R&D, production, and customer service can be benchmarked, they are not exclusive to it.

C) While marketing is an essential business function, it does not cover R&D and production, which are involved in creating and manufacturing the product or service being marketed.

D) The supply chain refers to the series of activities involved in producing and delivering a product or service to the end customer, from raw materials and components to finished goods. While R&D and production are part of the supply chain, they do not encompass customer service, which is outside the traditional supply chain scope.

R&D, Production, and Customer Service Are Business Functions That Are