Value Chain MCQ Quiz

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Value Chain MCQ Quiz - Quiz

Have you heard about value chain analysis? Take this value chain analysis mcq to check how well you understand the term and functionality. It is basically the implementation of ideas into reality to run a business. You can take this test to check as well as enhance your knowledge. You can get a perfect score with all the correct answers. Even if you miss out on something, we will help you know that. All the best! You can share the quiz with other business people also.


Questions and Answers
  • 1. 

    What are the five primary activities of the value chain model?  

    • A.

      Inbound logistics, Operations, Outbound Logistics, Marketing and Sales, and Technology Development

    • B.

      Inbound logistics, Operations, Outbound Logistics, Marketing and Sales, and HR Management

    • C.

      Inbound logistics, Operations, Outbound Logistics, Marketing and Sales, and Service

    • D.

      Inbound logistics, Operations, Infrastructure, HR Management, and Service

    Correct Answer
    C. Inbound logistics, Operations, Outbound Logistics, Marketing and Sales, and Service
    Explanation
    The correct answer is Inbound logistics, Operations, Outbound Logistics, Marketing and Sales, and Service. This answer aligns with the primary activities of the value chain model, which includes the activities involved in receiving, storing, and distributing inputs; transforming inputs into finished products or services; delivering finished products or services to customers; promoting and selling products or services; and providing after-sales support and customer service.

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  • 2. 

    What are the supporting activities of the value chain model?

    • A.

      Infrastructure of the firm, Human Resource department, Technology department, Procurement

    • B.

      Infrastructure of the firm, Human Resource department, Technology department, Marketing and Sales

    • C.

      Infrastructure of the firm, Service, Technology department, Procurement

    • D.

      Inbound logistics, Procurement, Outbound Logistics, Marketing and Sales, and Service

    Correct Answer
    A. Infrastructure of the firm, Human Resource department, Technology department, Procurement
    Explanation
    The supporting activities of the value chain model include the infrastructure of the firm, which refers to the organization's resources, systems, and processes. The Human Resource department is responsible for managing the organization's workforce and ensuring that they have the necessary skills and knowledge. The Technology department plays a crucial role in developing and maintaining the technological infrastructure of the firm. Lastly, the Procurement function involves acquiring the necessary inputs for the organization's operations. These activities collectively support the primary activities of the value chain model and contribute to the overall success of the firm.

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  • 3. 

      How many steps are there in value chain analysis?

    • A.

      4

    • B.

      1

    • C.

      3

    • D.

      2

    Correct Answer
    C. 3
    Explanation
    Value chain analysis is a framework used to analyze a company's activities and identify areas of competitive advantage. It involves breaking down the company's operations into different activities, which are classified into primary and support activities. The primary activities include inbound logistics, operations, outbound logistics, marketing and sales, and service. The support activities include procurement, technology development, human resource management, and firm infrastructure. Therefore, there are a total of 3 steps in value chain analysis: identifying the primary activities, identifying the support activities, and analyzing the linkages between these activities.

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  • 4. 

    What type of supporting activity is purchasing inputs such as material, supplies, and equipment?

    • A.

      Procurement

    • B.

      Inbound Logisitics

    • C.

      Outbound Logisitics

    • D.

      Service

    Correct Answer
    A. Procurement
    Explanation
    Procurement refers to the process of acquiring goods, materials, and services needed for a business. It involves activities such as purchasing inputs like materials, supplies, and equipment. This includes sourcing suppliers, negotiating contracts, and managing the entire purchasing process. Therefore, the correct answer is Procurement.

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  • 5. 

    Which activity is not related to Service?

    • A.

      Installation

    • B.

      Parts supply

    • C.

      Delivery

    • D.

      Quoting

    Correct Answer(s)
    C. Delivery
    D. Quoting
    Explanation
    Delivery and quoting are activities that are directly related to providing a service. Delivery involves transporting the service to the customer, while quoting involves providing a price estimate for the service. On the other hand, installation and parts supply are activities that are directly related to the service itself, as they involve setting up and providing the necessary components for the service to be delivered effectively. Therefore, delivery is the activity that is not related to service.

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  • 6. 

    Machining, packaging, assembly, testing, printing and facility operations are examples of

    • A.

      Operations

    • B.

      Procurement

    • C.

      Outbound Logistics

    • D.

      Service

    Correct Answer
    A. Operations
    Explanation
    Machining, packaging, assembly, testing, printing, and facility operations are all examples of operations within a company. Operations refer to the activities and processes involved in producing goods or delivering services. These activities can include manufacturing, assembly, testing, and other tasks necessary to create a product or provide a service. In this case, the given examples all involve various operational activities that contribute to the overall production and delivery process.

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  • 7. 

    Which of the following are the Outbound Logistics activities?

    • A.

      Delivery

    • B.

      Finished good warehousing

    • C.

      Order processing and scheduling

    • D.

      All of the above

    Correct Answer
    D. All of the above
    Explanation
    The correct answer is "All of the above" because all the mentioned activities - delivery, finished good warehousing, and order processing and scheduling - are part of the outbound logistics process. Outbound logistics involves the activities required to deliver the finished products to customers, which includes managing the storage and movement of goods, processing customer orders, and scheduling deliveries. Therefore, all three activities mentioned in the options are considered as outbound logistics activities.

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  • 8. 

    CRM's & ERP's are examples of __________ activities.

    • A.

      Service

    • B.

      Technology Development

    • C.

      Sales & Marketing

    • D.

      Procurement

    Correct Answer
    B. Technology Development
    Explanation
    CRM's and ERP's are examples of technology development activities because they involve the use and development of software and technology systems to manage and automate various business processes. CRM (Customer Relationship Management) systems are used to manage and analyze customer interactions and data, while ERP (Enterprise Resource Planning) systems are used to integrate and manage various aspects of a company's operations, such as finance, inventory, and human resources. Both CRM and ERP systems require the development and implementation of technology solutions to support and streamline business processes.

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  • 9. 

    Which of the following is NOT an activity involved by Human Resources

    • A.

      Training

    • B.

      Hiring

    • C.

      Strategic management

    • D.

      None of the above

    Correct Answer
    C. Strategic management
    Explanation
    Strategic management is not an activity involved by Human Resources. Human Resources is responsible for activities such as training employees to enhance their skills and knowledge, and hiring new employees to fill vacant positions. However, strategic management falls under the domain of top-level management and involves making decisions about the overall direction and goals of the organization. While Human Resources may contribute to strategic management by providing input on HR-related matters, it is not primarily responsible for this activity.

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  • 10. 

    The function of purchasing inputs used in the firm’s value chain is

    • A.

      Operations

    • B.

      Procurement

    • C.

      Firm infrastructure

    • D.

      Inbound logistics

    Correct Answer
    B. Procurement
    Explanation
    Procurement refers to the process of acquiring goods or services needed for the firm's operations. It involves sourcing, negotiating, and purchasing inputs used in the firm's value chain. This function is responsible for selecting suppliers, managing contracts, and ensuring the availability of necessary resources to support the firm's operations. Procurement plays a crucial role in optimizing costs, ensuring quality, and maintaining an efficient supply chain, ultimately contributing to the overall success and competitiveness of the firm.

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