THE INTERNAL ENVIRONMENT

What is the main purpose of value chain analysis?

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  To create value that exceeds the cost of providing the product or service

• To automate any identified deficiencies in processes

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  To identify current or potential bottlenecks in workflow

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  To create more value for customers

What is the goal of value chain analysis?

• To create a profitable margin

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  To find tasks that can be outsourced

• To find tasks that can be automated

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  To identify the various processes used by a business

Which of the following is a factor impacting an organization's internal environment?

• Value system

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  The economy

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  Technology

• Competition

What does the Human Resources department do within an organization?

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  Assists customers with product information

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  Hires and manages employees

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  Analyzes competitor activities

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  Compiles operational reports

What is an example of an organization's strength?

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  Outdated technology

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  Lack of expertise

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  Deficient assets

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  Updated technology

What is a purpose of the mission and objectives of an organization?

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  To compare the benefits and costs of a product to others on the market

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  To provide customers with a purpose

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  To serve customer needs

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  To define the purpose of the company

What can a competitively viable business challenge its rivals to do?

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  Use cutting-edge proprietary technology

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  Copy their product or service

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  Offer a product or service

• 
  Enforce quality control

What is one way to create value in business?

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  Create an attractive loyalty program

  
  

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  Earn a return on capital

• Form business partnerships

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  Develop a customer support program

What kind of resource is most valuable to a company?

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  Intangible assets

• 
  Financial resources

• 
  Outdated technology

• 
  Physical resources

What is typically an outcome of a value chain analysis?

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  Automating processes

• 
  Replacing personnel

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  Expanding connections with other companies and their customers

• Increasing the price of services