which of the following given business functions in the value chain does the cost item belong to?

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    which of the following given business functions in the value chain does the cost item belong to - Related Questions

    What is value chain cost?

    Value chain refers to a set of business functions that add value to the customer through a given product. These processes involve costs and must be reflected in the product or service price. The performance of the service is production in a service business.

    Which of the following best describes the value chain it is a sequence of business functions in which?

    In business, the value chain refers to the sequence of functions that add value to a product or service by adding customer usefulness.

    What are the business functions in the value chain?

    Within the value chain, Porter identified five functions: logistics inbound, logistics outbound, marketing, sales, and service. Each of these five functions is crucial to the creation of a profit.

    What is the main function of the value chain?

    Value chains are business models that describe the process of turning an idea into a finished product or service. The goal of value chains is to help businesses improve their efficiency to deliver the best value at the lowest cost possible.

    What are the 5 primary activities of a value chain?

    Inbound logistics, operations, outbound logistics, marketing and sales, and service are the five primary activities in Michael Porter's value chain, with the goal of creating value that exceeds the cost of conducting that activity, resulting in a higher profit.

    What is the function of the value chain?

    Companies analyze their value chains by examining the steps involved in each step of their business processes. Value-chain analysis is about reducing production costs and increasing production efficiency so that a company can benefit as much as possible from its products.

    What is a value chain example?

    Businesses can take advantage of opportunities to improve their competitive position by conducting a value chain analysis. McD's mission is, for instance, to offer low-cost food to its customers.

    What is value chain concept?

    From receiving raw materials to their delivery to market, and the activities that take place along the way, a value chain describes the entire course of a business's activities. The five primary activities and four secondary activities of a value chain are depicted in this diagram.

    What is the purpose of the value chain quizlet?

    A value chain is a coordinated set of functional activities that transforms inputs like new product concepts, raw materials, component parts, or professional skills into finished goods or services that customers value and want to buy.

    How do you calculate value chain?

  • The first step is to identify all activities that make up the value chain.
  • Step 2: Determine the costs associated with each value chain activity.
  • Step 3: Determine what your customers consider to be valuable.
  • Step 4: Examine the value chains of your competitors...
  • Decide on a competitive advantage in step 5.
  • What are the cost drivers in an organization's value chain?

    The cost behavior of value activities is determined by ten major cost drivers: economies of scale, learning, capacity utilization patterns, linkages, interrelationships, integration, timing, discretionary policies, location, and institutional factors.

    What is the value chain describe in sequence the main components of a manufacturer's value chain?

    Providing a product or service involves all activities associated with the life cycle of the product. For a manufacturer, these activities include research and development, product design, raw material acquisition, production, sales and marketing, delivery, customer service, etc.

    What is value chain approach?

    The Value Chain Approach is a method for determining value. In the value chain approach, we attempt to understand the firms that operate within an industry, such as input suppliers through to end-market buyers, support markets providing technical, business, and financial support to the industry, and the business environment of that industry.

    Is an after sale support provided to customers?

    After-sales service refers to any assistance given to a customer after they have purchased a product or service. After-sale support is used by companies as a business strategy since it boosts customer satisfaction, brand loyalty, and word-of-mouth marketing.

    Under which contemporary management technique does the business functions R&D production and customer service belong?

    In this case, a is the correct answer. This value chain analysis includes factors such as logistics, marketing, and sales for a particular project, as well as business functions such as R&D, production, and customer service. value chain method will enhance the business if it is implemented properly.

    Which of the following are components of the value chain for most organizations?

    Inbound operations, operations, outbound logistics, marketing and sales, and service are the five primary activities, while procurement and purchasing, human resource management, technological development, and company infrastructure are the four secondary activities.

    What are six business functions of value chain?

    Michael Porter's value chain is primarily based on inbound logistics, operations, outbound logistics, marketing, and sales.

    What is cost driver value chain?

    A Value Chain activity's cost is determined by its cost drivers. Within an activity, they are responsible for determining the behavior of costs. The relative cost position of a firm is determined by summing the costs of its major discrete activities.

    What is an organization's value chain?

    As a result of the activities an organization performs to deliver value to its customers, it creates a value chain. Costs and profits are determined by how value chain activities are performed, so this tool provides insight into where your organization finds value.

    What are the key elements of your company's value chain?

    A value chain includes the following activities: inbound logistics, operation outbound logistics, marketing and sales, and service. The company's infrastructure, human resources management, and procurement activities are also included.

    What are the 4 components of supply chain management?

    Integrating the supply chain, operating it, acquiring it, and disseminating it are the four major components of supply chain management. They ensure a seamless transition from plan to completion in the most cost-effective way possible with the help of each other.

    What are the four support activities to a value chain?

    There are vertical columns illustrating support activities over each primary activity. Procurement, human resources, technology development, and firm infrastructure make up these areas. Generic value chain models provide a visual representation of all activities with equal weighting.

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