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1
Q

Value Chain Analysis

A

a strategic analysis of an organization that uses value-creating activities (primary and secondary)

2
Q

Primary Activities

A

sequential activities of the value chain that refer to physical creation of the product/service, it’s sale and transfer to the buyer, and it’s service after sale, including inbound logistics, operations, outbound logistics, marketing & sales, and service

3
Q

Support Activities

A

Activities of the value chain that either add value by themselves or add value through important relationships with both primary activities; including procurement, technology development, human resource management, and general administration.

4
Q

Inbound logistics

A

receiving, storing, and distributing inputs of a product

5
Q

Operations

A

all activities associated with transforming inputs into the final product form

6
Q

Outbound logistics

A

collecting, storing, and distributing the product or service to buyers.

7
Q

Marketing and sales

A

activities associated with purchases of products and services by end users and the inducements used to get them to make purchases

8
Q

Service

A

Actions associated with providing service to enhance or maintain the value of the product

9
Q

Procurement

A

the function of purchasing inputs used in the firm’s value chain, including raw materials, supplies, and other consumable items as well as assets such as machinery, lab equipment, office equipment, and buildings.

10
Q

Technology Development

A

activities associated with the development of new knowledge that is applied to the firms operations

11
Q

Human Resource Management

A

Activities involved in the recruiting, hiring, training, development and compensation of all types of personnel.

12
Q

General Administration

A

gen. management, planning, finance, accounting, legal and government affairs, quality management, and info systems; activities that support the entire value chain and not individual activities

13
Q

Interrelationships

A

Collaborative and strategic exchange relationships between value-chain activities either (a) within firms or (b) between firms. Strategic exchange relationships involve exchange of resources such as info, people, technology, or money that contribute to the success of the firm

14
Q

Resource-based view of the firm

A

perspective that firms’ competitive advantages are due to their endowment of strategic resources that are valuable rare, costly to imitate, and costly to substitute

15
Q

Tangible resources

A

organizational assets that are relatively easy to identify, including physical assets, financial resources, organizational resources, & technological resources

16
Q

Intangible resources

A

organizational assets that are difficult to identify and account for and are typically embedded in unique routines & practices, including HR, innovation resources, and reputation resources.

17
Q

Organizational Capabilities

A

The competencies and skills that a firm employs to transform inputs into outputs

18
Q

Strategic Resources (aka firm resource or organizational resources)

A

Firms’ capabilities that are valuable, rare, costly to imitate, and costly to substitute

19
Q

path dependency

A

a characteristic of resources that is developed and/or accumulated through a unique series of events

20
Q

Causal ambiguity

A

a characteristic of a firm’s resources that is costly imitate because a competitor cannot determine what the resource is and/or how it can be recreated

21
Q

Social Complexity

A

a characteristic of a firms resources that is costly imitate because the social engineering required is beyond the capability of competitors, including interpersonal relations among managers, organizational culture, and reputation with suppliers and customers

22
Q

Financial Ratio Analysis

A

A technique for measuring the performance of a firm according to its balance sheet, income statement, and market valuation

23
Q

Balanced Scorecard

A

A method of evaluating a firms performance using performance measures from the customers, internal, innovation & learning, and financial perspectives.

24
Q

Customer Perspective

A

measures of firm performance that will indicate how well firms are satisfying customers’ expectations

25
Q

Internal Business Perspective

A

measures of firm performance that indicate how well firms internal processes, decisions and actions are contributing to customer satisfaction.

26
Q

Innovation and Learning Perspective

A

measures of firm performance that indicate how well firms are changing their product and service offerings to adapt to changes in internal and external environments

27
Q

Financial Perspective

A

measures of firms’ financial performance that indicate how well strategy, implementation and execution are contributing bottom line improvement.