Describe each of the value chain activities that can be converted into a competitive advantage, as proposed
by Michael Porter.
What will be an ideal response?
In his book, Competitive Advantage, Michael Porter identified five primary activities (inbound logistics,
operations, outbound logistics, marketing and sales, and service) and four support activities (infrastructure, human
resource management, technological development, and procurement).
•Inbound logistics-Access to unique production materials
•Operations-Unique manufacturing process; Unique service delivery process
•Outbound logistics-Shipping products out of organization
•Marketing and sales-Marketing and selling products
•Service-Providing service before, during and after the sale
•Infrastructure of firm-Managing organization, including planning, finance, and legal affairs
•Human resource management-Recruiting and training managerial talent
•Technological development-Leveraging technical expertise to develop innovative products
•Procurement-Purchasing materials
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Identify six classes of physical controls employed in the expenditure cycle and give one example of each
The five economic attributes that are normally studied are demand, supply, manufacturing, ____________________, and investing and financing
Fill in the blank(s) with correct word
Which of the following is outlawed under the Taft-Hartley Act of 1947?
A. Closed shop agreements. B. Union shop agreements. C. Agency shop agreements. D. Open shop agreements.
A study varied the degree to which managers performed work that was more complex, equally complex, or less complex than the work done by those they supervised. This study found that
a. higher rates of order-giving increased perceptions of leadership ability when the managers performed either relatively more complex work, or relatively less complex work b. managerial complexity had no effect on how the managers were rated on leadership c. regardless of the managers’ relative complexity, high rates of order-giving reduced the subordinates’ ratings of the leader d. high rates of order-giving increased ratings of the leaders across all levels of relative task complexity