Answer :
Final answer:
The overall value chain and its activities are foundational for establishing a competitive advantage, hence the correct answer is d. Competitive advantage.
Explanation:
A value chain encompasses a series of activities that a business engages in to deliver a valuable product or service to the market. These activities range from raw material procurement to the final delivery of the product or service to the end customer.
The value chain analysis helps in identifying areas where a company can create additional value for its customers or optimize its operations to reduce costs, thereby gaining an edge over its competitors.
Understanding and optimizing the value chain is critical for businesses because it directly influences their ability to compete and succeed in the market. Strategic management of the value chain involves improving efficiency, enhancing product quality, and innovating in product delivery and customer service.
Businesses often engage in business expansion, such as through horizontal or vertical integration, to strengthen their value chains and secure a competitive advantage in the market.
