What is a value chain?
What will be an ideal response?
Answer: A value chain is a set of key activities that directly produce or support the production of a firm's products and services offered to customers. The primary activities of a value chain include inbound logistics, operations, outbound logistics, marketing and sales, and after-sale service. The support activities of a value chain include firm infrastructure, human resource management, technology development, and procurement.
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An organization has had a policy of ordering 70 units at a time. Their annual demand is 340 units, and the item has an annual carrying cost of $2. The assumptions of the EOQ are thought to apply
For what value of ordering cost would this order size be optimal?
Which of the following is NOT a disadvantage of a sole proprietorship as a form of business organization compared to the corporate form of business organization?
A) Access to the capital markets B) Unlimited liability of the owners C) Subject to the double taxation D) Limited liability of the shareholders