Asked by callie torres on Jun 23, 2024
Verified
The strategic importance of value chain activities varies by industry.
Value Chain
A series of activities performed by a company to deliver a valuable product or service to the market.
Strategic Importance
Significance associated with a decision or action that affects the long-term objectives and competitive positioning of an organization.
- Know the strategic importance of value chain activities and how they vary by industry.
Verified Answer
TI
Tracy Iluobe-CarterJun 25, 2024
Final Answer :
True
Explanation :
Each industry has a unique value chain and the specific activities within it that provide the greatest strategic importance will differ. For example, in a manufacturing industry, supply chain management and production processes may be critical, while in a service industry, customer service and marketing activities may be more important. It is essential for companies to understand the strategic importance of their particular value chain activities to gain a competitive advantage.
Learning Objectives
- Know the strategic importance of value chain activities and how they vary by industry.
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