Final answer:
The four support activities in the value chain include company infrastructure, human resource management, technology development, and procurement, which are all essential for effective functioning and adding value in a company's value chain.
Step-by-step explanation:
The four support activities in the value chain, as defined by Michael Porter, include company infrastructure, human resource management, technology development, and procurement.
Each of these activities plays a crucial role in adding value to the production process and is essential for the effective functioning of the primary activities in a company’s value chain. Company infrastructure refers to the systems and structures that support the company's operations, such as management, planning, finance, and quality control systems.
Human resource management involves the recruitment, training, development and compensation of employees. Technology development pertains to the use of technology to support value-creating activities, which includes research & development, process automation, and other technological improvements. Lastly, procurement is the sourcing of goods and services needed to perform the company's activities, involving the acquisition of raw materials, supplies, and other necessary inputs.