International Business and Value Chains

Flashcards focusing on key vocabulary and concepts related to international business and value chains discussed in the lecture.

Value Chain

A set of activities that a firm performs to deliver a valuable product or service and create value for customers.

Porter's Value Chain Model

A framework that analyzes the specific activities through which firms can create value and competitive advantage.

Support Activities

Activities that help primary activities, including firm infrastructure, human resource management, technology development, and procurement.

Primary Activities

Activities directly related to creating and delivering a product or service, such as operations, outbound logistics, marketing, and service.

Cost Advantage

A competitive advantage gained by reducing operational costs.

Differentiation Advantage

A competitive advantage achieved by providing unique features that are valued by customers.

Internationalization of Value Chain

Configuring a firm's sourcing, manufacturing, and marketing activities on a global scale to enhance efficiency and access to resources.

R&D

Research and Development; activities related to the innovation and design of new products.

Apple's Value Chain

Includes designing devices, managing global manufacturing, building devices, developing software, and providing service and support.

Connect & Develop Program

P&G's initiative to generate new product ideas from external sources beyond the company.

Outsourcing

The practice of delegating specific business processes to third-party service providers.

Competitive Advantage

An advantage a company has over its competitors, allowing it to generate greater sales or margins.