Match the term with its definition.
-The capabilities that distinguish a firm competitively and reflect its focus and personality
A)capabilities
B)competitive advantage
C)competitive environment
D)core competencies
E)cost-based strategy
F)differentiation-based strategy
G)entrepreneurial alertness
H)fatal flaw
I)feasibility analysis

Question

Quizplus · Accepted Answer

Core competencies refer to the unique capabilities and strengths of a firm that give it a competitive advantage in the market.

Answer: B 
 Competitive advantage refers to the unique advantages that a firm has over its competitors that allow it to succeed in the marketplace.

Answer: C 
 Competitive environment refers to the external factors and forces that affect a firm's competitiveness in the market.

Answer: F 
 Differentiation-based strategy refers to a business strategy that focuses on offering a unique product or service to stand out from competitors.

Answer: G 
 Entrepreneurial alertness refers to a person's ability to recognize and capitalize on business opportunities.

Answer: H 
 Fatal flaw refers to a major weakness in a business that can lead to its failure.

Answer: I 
 Feasibility analysis refers to the process of assessing the viability and potential success of a business idea or plan.

Answer: A and E 
 Capabilities refer to the skills and resources that a firm possesses, while cost-based strategy refers to a business strategy that focuses on minimizing costs to achieve a competitive advantage.

Match the Term with Its Definition