Question

A useful way to understanding the purpose of strategy is to think of the firm as a(n) ________, composed of a series of distinct activities, including production, marketing, materials management, R&D, human resources, information systems, and the firm infrastructure.

A. functional stream
B. momentum machine
C. inertiachain
D. value chain
E. business chain

Answer 1

Answer:

The correct answer to the given question is D) Value chain.

Explanation:

Value chain consists of various activities that takes place in a organization, like product designing. its production, material management, research and development, firm infrastructure, marketing that product and distributing the valuable product to the market or to its target consumers. For understanding this concept an example can be like, suppose if a company produces bathmats, then its value chain will start with raw materials that are used in production of bathmats and this chain will add everything in it before selling that product to the consumers.