Describe the Differences and Relationships Between Resources,capabilities and Core Competencies

question 27

Essay

Describe the differences and relationships between resources,capabilities and core competencies.How do these items relate to inside-out analysis?

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Definitions:

Product Cost

The total expense incurred to create and manufacture a product, including direct labor, materials, and overhead.

Maintenance

The process of preserving equipment, systems, and buildings in proper working condition through routine checks, repairs, and updates.

Factory Equipment

Factory equipment encompasses the machinery and tools used in manufacturing processes to produce goods.

Factory Overhead

All manufacturing costs that are not directly attributable to the product, including indirect materials, indirect labor, and other production-related expenses.