SEVI Test 2 Questions and Answers
Latest Versions 2026 Graded A+
What is scenario analysis?
A planning method where managers create possible future scenarios to
guide strategy decisions.
How has the digital economy impacted businesses?
It has increased connectivity, lowered barriers to entry, enabled e-
commerce, and transformed business models.
What is value in a business context?
Value is the benefit a customer receives from a product or service
relative to the cost paid for it.
How do organizations create value?
Organizations create value by performing activities that increase the
benefits of a product or service while controlling costs.
What is the value chain?
The value chain is a set of activities a firm performs to design, produce,
market, deliver, and support its products or services.
What is value chain analysis?
Value chain analysis evaluates each activity in the value chain to
determine where value is added and where competitive advantage can
be created.
, What are the primary activities in the value chain?
Inbound logistics, operations, outbound logistics, marketing and sales,
and service.
What are the support activities in the value chain?
Firm infrastructure, human resource management, technology
development, and procurement.
What occurs during inbound logistics?
Receiving, storing, and distributing inputs used in production.
What occurs during operations in the value chain?
Transforming inputs into finished products or services.
What occurs during outbound logistics?
Collecting, storing, and distributing products to customers.
What activities are included in marketing and sales?
Advertising, promotion, pricing, and distribution strategies.
What activities are included in service?
Customer support, repairs, maintenance, and product training.
What is firm infrastructure in the value chain?
Organizational structure, control systems, company culture, and
general management.
What is human resource management in the value chain?
Recruiting, hiring, training, and compensating employees.
What is technology development in the value chain?
Latest Versions 2026 Graded A+
What is scenario analysis?
A planning method where managers create possible future scenarios to
guide strategy decisions.
How has the digital economy impacted businesses?
It has increased connectivity, lowered barriers to entry, enabled e-
commerce, and transformed business models.
What is value in a business context?
Value is the benefit a customer receives from a product or service
relative to the cost paid for it.
How do organizations create value?
Organizations create value by performing activities that increase the
benefits of a product or service while controlling costs.
What is the value chain?
The value chain is a set of activities a firm performs to design, produce,
market, deliver, and support its products or services.
What is value chain analysis?
Value chain analysis evaluates each activity in the value chain to
determine where value is added and where competitive advantage can
be created.
, What are the primary activities in the value chain?
Inbound logistics, operations, outbound logistics, marketing and sales,
and service.
What are the support activities in the value chain?
Firm infrastructure, human resource management, technology
development, and procurement.
What occurs during inbound logistics?
Receiving, storing, and distributing inputs used in production.
What occurs during operations in the value chain?
Transforming inputs into finished products or services.
What occurs during outbound logistics?
Collecting, storing, and distributing products to customers.
What activities are included in marketing and sales?
Advertising, promotion, pricing, and distribution strategies.
What activities are included in service?
Customer support, repairs, maintenance, and product training.
What is firm infrastructure in the value chain?
Organizational structure, control systems, company culture, and
general management.
What is human resource management in the value chain?
Recruiting, hiring, training, and compensating employees.
What is technology development in the value chain?
