When a company has become proficient in modifying,upgrading,or deepening the company's resources and capabilities in response to its changing environment and market opportunities,it is called a
A)dynamic capability.
B)core competence.
C)distinct competence.
D)strategic assessment.
E)competitive strength matrix.

Question

Quizplus · Accepted Answer

A dynamic capability refers to a company's ability to modify, improve, or build its resources and capabilities over time to stay competitive in a changing environment. This involves the company's ability to adapt and innovate its products, processes, or services in response to market opportunities. Dynamic capabilities are considered a source of sustained competitive advantage for a company. Core competence refers to the unique set of skills or knowledge that a company possesses and allows for competitive differentiation. Distinct competence is not a commonly used term in strategy and management literature. Strategic assessment refers to the process of evaluating a company's strengths, weaknesses, opportunities, and threats (SWOT analysis). Competitive strength matrix is a tool used to analyze a company's position relative to its competitors based on key success factors.

When a Company Has Become Proficient in Modifying,upgrading,or Deepening the Company's