L. Baker is the store owner and manager for a local home improvement store located in a town along the east coast of the United States. In September, a nearby town was devastated by a hurricane and, as a consequence, his store anticipates a tremendous increase in sales of building supplies. He has been advised to quickly double the sales prices on his most popular supplies to take advantage of the increased demand.
Do you think it would be legal and/or ethical for L. Baker to double his prices? Why or why not?
59. What is a “value chain”? Give several examples of activities in a value chain.
60. Briefly describe supply-chain management and give one specific example of its application.
61. What is the goal of customer relationship management (CRM)? List at least two types of processes a company can perform to achieve its goal.
62. How can a manager determine whether an activity is value-added or non-value-added? Why is it beneficial to make this determination? Provide one example of a value-added and non-value-added activity in the production of a bicycle.
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