The ____ of a firm defines the strengths that are unique to that organization.
A)strategy development
B)strategic mission
C)vision statement
D)core competencies

Question

Quizplus · Accepted Answer

Core competencies are the unique strengths or capabilities of a firm that give it a competitive advantage in the marketplace. They are typically developed over time and are difficult for competitors to replicate. Strategy development is the process of creating a plan for achieving a company's goals, while a strategic mission is a statement of the purpose of the company. A vision statement is a statement about where the company aims to be in the future. While all of these elements are important for a company's success, none specifically defines the firm's unique strengths like core competencies do.

The ____ of a Firm Defines the Strengths That Are