A company’s value chain consists ofMultiple Choicethe activities a company performs in converting its resource weaknesses into resource strengths.the collection of activities it performs while designing, producing, marketing, delivering, and supporting its product or service.those activities a company performs that represent “best practices.”the activities that a company performs in developing a distinctive competence.the activities that represent a company’s competencies, core competencies, distinctive competencies, and competitive capabilities.

Value chain activities a firm performs to sustain itself which do not directly create a product or service but are necessary to support the firm’s existence, such as accounting and human resources, are considered:Primary activitiesNon-product activitiesEssential servicesSupport activities

A value chain is the sequence of business processes in which:Question 16Select one:managers determine pricescosts are determined with activity-based principlesall non-value-added activities are eliminatedvalue is added to a product or service

An organisation’s value chain provides a framework for considering a range of issues such as:I.    reinforcing initiatives such as costing methodsII.   breaking down traditional representations of organisational activity.III.  reflecting value chain relationships in terms of cost.IV.   encourages a broader organisational viewQuestion 18Select one:II and IVAll options are correct - I,II,III and IVI and IIII and II

In what ways does Value Chain Analysis help organizations identify their competitive advantages?

A company’s cost competitiveness is largely a function ofMultiple Choicewhether it does a good enough job of benchmarking its value chain activities against the value chains of competitors so that it knows exactly how low to drive its costs to be cost-competitive.how efficiently it manages its internally performed value chain activities and the costs in the value chains of its suppliers and forward channel allies.whether it does a better job of building its resource strengths more cost effectively than rivals.whether it possesses more core competencies and competitive capabilities than rivals.how closely its internally performed activities are linked to the activities performed by suppliers and to the activities performed by forward channel allies.