Essay Questions 1) Sketch the generic value chain for a company and briefly describe the contributions of each of its elements
What will be an ideal response?
Answer: The value chain diagram from the text is:
The value chain begins with New Product Development, which creates specifications for the product. Marketing and Sales generate demand by publicizing the customer priorities that the products and services will satisfy. Marketing also brings customer input back to new product development. Operations transforms inputs to outputs to create the product according to new product specifications. Distribution either takes the product to the customer or brings the customer to the product. Service responds to customer requests during or after the sale. These are core processes or functions that must be performed for a successful sale.
Finance, accounting, information technology, and human resources support and facilitate the functioning of the value chain.
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Job satisfaction results in stronger ______ and lower levels of ______
A. job involvement; work-life balance. B. motivation; life satisfaction. C. organizational commitment; perceived stress. D. perceived stress; life satisfaction. E. perceived stress; absenteeism.
You have just returned from an interview with a company, and you are considering the appropriateness of a thank-you letter or note. The thank-you message:?
A) ?is not necessary if you thanked the interviewer in person after the interview. B) ?should be sent promptly in order to be effective. C) ?should be sent by mail rather than an email to give you a competitive advantage. D) ?should include a reminder that the application for the job is on file.
Branding
A. is especially helpful with a low-quality product. B. helps consumers, but it is bad for the firm because it increases expenses. C. is handled by manufacturers but not intermediaries. D. is more likely to be successful if demand for the general product class is strong enough to allow a profitable price. E. None of these answers is correct.
Vernon, Carey, and Perry were partners in Capstone Clothiers, a retail clothing store. They decided to change the organization of the business to a corporation. They changed the business name to Capstone Clothing, Inc and notified creditors of the change. Have they formed a valid corporation?