Explain value chains and the differences between primary and support value activities.
What will be an ideal response?
Value chain approach views an organization as a chain or series or processes, each of which adds value to
the product or service for each customers. To create a competitive advantage, the value chain must enable
the organization to provide unique value to its customers. Examining the organization as a value chain
determines which activities add value for customers. The organization can then focus specifically on
those activities. Primary value activities acquire raw materials and manufactures, delivers, markets, sells
and provides after-sales services. Support value activities support the primary value activities. Customers
determine the extent to which each activity adds value to the product or service. The competitive
advantage is to (1) Target high value-adding activities to enhance their value, (2) Target low value-adding
activities to increase their value, (3) Perform some combination of the two.
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Fill in the blank(s) with the appropriate word(s).
The ____________________ function returns the phonetic representation for a specified value
Fill in the blank(s) with correct word