Question

From a value chain perspective, _____ are the actions a firm takes to directly provide a product or service to customers, whereas, ______ are actions required to sustain the firm that are not directly part of product or service creation.

Answer 1

From a value chain perspective, Primary activities are the actions a firm takes to directly provide a product or service to customers, whereas, Support activities are actions required to sustain the firm that is not directly part of product or service creation.

What does value chain mean?

The value chain depicts the entire spectrum of tasks performed by businesses and employees to move a product from its inception to its ultimate use and beyond. This covers tasks including design, production, marketing, distribution, and customer service.

The value chain improves business efficiency so that customers can buy the highest value product for the least amount of money. The value chain management objective is to give the organization a competitive edge by raising the overall margin.

Inbound logistics, operation outbound logistics, marketing and sales, and service are the primary activities in the value chain. Infrastructure management, human resource management, and purchasing are examples of secondary or support tasks.

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