Multiple Choice
Which of the following questions would a firm's business strategy ideally answer?
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Business Organization
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Which of the following represents one of the primary components of the value chain?
A
Inbound logistics
B
Human resource management
C
Firm infrastructure
D
Procurement
Verified step by step guidance1
Understand the concept of the value chain: The value chain is a framework introduced by Michael Porter that identifies the primary and support activities within a business that add value to its products or services.
Identify the primary components of the value chain: The primary activities include inbound logistics, operations, outbound logistics, marketing and sales, and service. These activities are directly involved in creating and delivering a product or service.
Differentiate between primary and support activities: Support activities, such as human resource management, firm infrastructure, and procurement, assist the primary activities but are not directly involved in the production or delivery process.
Focus on inbound logistics: Inbound logistics refers to the processes involved in receiving, storing, and managing raw materials or inputs required for production. It is one of the primary activities in the value chain.
Review the options provided: Among the options listed, inbound logistics is the correct answer as it is a primary activity, while human resource management, firm infrastructure, and procurement are support activities.
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