Question

A value chain is ________. Select one: a. the sequence of administrative policies implemented to promote economic integration by a government b. the process of relocating manufacturing and production to valuable and cost-effective locations abroad

Answer 1

Answer: Option D the sequence of value-adding activities performed by a firm in the course of developing, producing, marketing, and servicing a product

Explanation:

Value chain is process used by the organizations to add value to their product which might be in the form of manufacturing, after sale service and marketing methods used.

Value chain is a procedure which has many steps and it is also a business model where the ideas are brought into action. Through value chain organization can produce efficiently at low cost. It also gives competitive advantage for the business as it increases the productivity at reduced cost.