A value chain is the sequential steps of value-added activities that are necessary to create ________.
A) a competitive advantage in a crowded industry
B) differentiation among industry leaders
C) low-cost alternatives to the products of industry leaders
D) a product or service that is used by the end consumer

Question

Quizplus · Accepted Answer

A value chain is the process of transforming inputs into a finished product or service that is used by the end consumer. It includes all activities involved in creating and delivering the product to the customer. Therefore, the best choice is D - a product or service that is used by the end consumer.

A Value Chain Is the Sequential Steps of Value-Added Activities