What refers to increasing or enhancing the worth, utility, or desirability of a product, service, or business entity?

Question

BlackTom AI · Accepted Answer

The prompt asks about terminology that describes increasing or enhancing the worth, utility, or desirability of a product, service, or business entity.
Option 1: 'digital ecosystem' refers to the interconnected digital tools, platforms, and services that collectively support a business. While important for value, it describes a network structure rather than the act of increasing worth itself.
Option 2: 'augmented reality' is a technology that overlays digital content onto the real world. It is a tool or capability, not the overarching concept of increasing value.
Option 3: 'value creation' directly denotes the process of increasing worth, utility, or desirability of offerings, which matches the definition in the question.
Option 4: 'virtual reality' is an immersive simulated environment technology. Like AR, it is a technological medium, not the broader concept of enhancing value.
Thus, when identifying the term that specifically captures the act of increasing value, option 3 best fits the definition.

What refers to increasing or enhancing the worth, utility, or desirability of a product, service, or business entity?

View Explanation

Log in for full answers

Similar Questions

In an industry where the average willingness to pay is $200 and average cost is $150, a cost-leader has a cost of $120. What is the minimum willingness to pay for the cost-leader to achieve higher value creation than the typical firm?

Like business to-consumer firms, business-to-business firms ultimately seek to create Blank ______ for customers.

Value Blank ______ refers to increasing or enhancing the worth, utility, or desirability of a product, service, or business entity.

Question at position 2 What is the primary purpose of organizations in the context of creating value?Minimizing operational costs to enhance competitivenessMeeting the needs and expectations of customersMaximizing profits for shareholdersPursuing social responsibility initiatives

The amount of value a firm creates is measured by the:

Value creation is what the firm adds to a product or service by virtue of making it; it’s the amount of benefits provided by the product or service once the costs of making it are subtracted.

Opportunity exploitation leads to

More Practical Tools for Students Powered by AI Study Helper

Homework AI Solver

Stylized AI Paper Writer

Plagiarism Checker Assistant

Citation AI Academic Writing Tool

In-Class Translation Assistant

AI Note Generator

AI Quiz Answers

Past Exam Questions from University Test Bank

Smart Practice Assistant

Adaptive Practice

Making Your Study Simpler