As an astute entrepreneur who believes in creativity and innovation, Mr. Francois is pondering about manufacturing something, but he has to think carefully about the product to be manufactured. Therefore, he needs to understand what the Value Chain is about as well as the types of strategies that he could utilize to gain a competitive advantage. What information would you provide to Mr. Francois and his family regarding the Value Chain as they think seriously about going into the manufacturing sector?

As an astute entrepreneur who believes in creativity and innovation, Mr. Francois is pondering about manufacturing something, but he has to think carefully about the product to be manufactured. Therefore, he needs to understand what the Value Chain is about as well as the types of strategies that he could utilize to gain a competitive advantage. What information would you provide to Mr. Francois and his family regarding the Value Chain as they think seriously about going into the manufacturing sector?

Principles of Management

OER 2019th Edition

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax

Chapter18: Management Of Technology And Innovation

Section: Chapter Questions

Problem 12CRQ: How does the management of technology and innovation help a firm create value? Why should the firm...

See similar textbooks

Similar questions

Considering the technological advances of the 21st century, discuss the benefits to businesses that strive to provide value to their customers. The use of examples to support your point is particularly important.
As a vendor of organic produce and a new entrepreneur, you found out through research, the cafeteria does not currently provide organic produce to its customers. Additionally, you learned the senior manager of the cafeteria is Mr. Hightower, who has a team, primarily assisting with the daily operations and decision-making of the business. Upon learning this information, your next step is to meet with the senior manager as soon as possible to discuss the benefits of organic produce, and how you and your team can provide the best service to Mr. Hightower and his staff in a very cost-effective manner. In regards to this showcase prospecting approaches in qualifying and addressing customer’s need, demonstrate relationship selling behavior and techniques, illustrate the purchase type for this product, discuss the sales presentation types one can use to sell this product,a ddress the types of objections Mr. Hightower and his staff will have and how you will overcome them, demonstrate how one…
What strategy should a business manager follow to increase the competitiveness of his business?
Why we will assess any business model and how we would view our business solution that will offer actionable insights to the company.
Analyze the Automobile manufacturing industry using Porter’s six forces. Write each of the six forces as a title. Rate each force as high, medium, or low and explain the reason why you think so. In addition, indicate whether or not the Automobile industry presents opportunities for new companies. Use the ratings that you allocated to the six forces to support your reasoning.
Can Instacart Deliver? See page 403 for the case study Explain how Instacart’s business model works. How does the company generate revenue?
Read the Enterprise Creation Lesson 5 When you’re doing the Enterprise Creation reading, you’ll see question prompts. Once you’ve read the material, answer the following questions in a Word document. When evaluating a new business opportunity, what are the most important characteristics of the industry to understand and why? Describe the key aspects to evaluate competitors in reviewing a new business opportunity. How are substitute products identified and evaluated in relation to a new business opportunity?
Due to the knowledge management systems she has installed in her company, Aziza is spending a lot of money. Briefly describe the potential benefits of knowledge management systems for marketing and manufacturing.
Business strategy concerns A) choosing appropriate internal business processes for a specific line of business. B) ensuring consistency in strategic approach among the businesses of a diversified company. C) selecting a set of financial and strategic objectives for a particular line of business. D) selecting a business model to use in pursuing business objectives. E) strengthening the company's market position and building competitive advantage.
Explainhow start–up enterprises can use creativity and innovation in their service and product development to help them to gain competitive advantage and to ultimately become successful.Your explanation should includereal-world examples and relevant statistics to support your answer
Please write a short note to cover this point "Understanding the strategic business possibilities inherent at the intersection of business and information technology".
Discuss how your personal core competencies help you create value for the business where you work, your life, your school, or your family. What can you do to expand or improve your core competencies?