SEVI Test 2 Questions and Answers
2026 Graded A+
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?
, Research and development, product design, and process
improvements.
What is procurement in the value chain?
Purchasing inputs such as raw materials, equipment, and supplies.
How does the value chain differ in service industries compared to
product industries?
Service industries emphasize customer interaction, service delivery, and
customer experience rather than physical production and distribution.
How do interrelationships between activities within a firm create
value?
When activities work efficiently together, they improve productivity,
reduce costs, and enhance product quality.
How can firms create value through relationships with suppliers and
customers?
By collaborating, sharing information, improving supply chain
efficiency, and customizing products for customer needs.
What are tangible resources?
Physical assets such as buildings, equipment, cash, and inventory.
What are intangible resources?
Non-physical assets such as brand reputation, patents, knowledge, and
company culture.
What are capabilities?
A firm's ability to effectively use resources to perform activities and
achieve objectives.
2026 Graded A+
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?
, Research and development, product design, and process
improvements.
What is procurement in the value chain?
Purchasing inputs such as raw materials, equipment, and supplies.
How does the value chain differ in service industries compared to
product industries?
Service industries emphasize customer interaction, service delivery, and
customer experience rather than physical production and distribution.
How do interrelationships between activities within a firm create
value?
When activities work efficiently together, they improve productivity,
reduce costs, and enhance product quality.
How can firms create value through relationships with suppliers and
customers?
By collaborating, sharing information, improving supply chain
efficiency, and customizing products for customer needs.
What are tangible resources?
Physical assets such as buildings, equipment, cash, and inventory.
What are intangible resources?
Non-physical assets such as brand reputation, patents, knowledge, and
company culture.
What are capabilities?
A firm's ability to effectively use resources to perform activities and
achieve objectives.
