Question

Value chain activities are

a. the activities most likely to be imitated by competitors.
b. activities or tasks the firm completes in order to produce products and then sell, distribute, and service those products in ways that create value for customers.
c. the core competencies of the organization.
d. the activities most crucial to implementing the firm's business strategy.

Answer 1

Value chain activities involve the processes a firm uses to create value through production, sales, distribution, and service. A firm's core competencies are typically a focused range of products or services. The global value chain often involves dividing production across firms and nations to increase efficiency and innovation.

Step-by-step explanation:

Value chain activities are tasks the firm completes to produce products and then sell, distribute, and service those products in ways that create value for customers. Focusing on a firm's core competencies, which are often a small range of products or services that a business can do particularly well, has been shown to be more successful than having a wide, potentially unfocused range of products. The concept of the value chain also reflects the specialization and division of labor in the global economy, where parts of the production process are split among different firms or locations, often in various countries, to leverage efficiencies and innovate within specific stages of production.