Firms Possessing Certain Core Competencies Are More Likely to Create

question 28

Multiple Choice

Firms possessing certain core competencies are more likely to create competitive advantages based on these competencies. However, before a competitive advantage can be translated into specific customer benefits, the firm's __________ must recognize that its competencies give it an advantage over the competition.

• A) management
• B) target markets
• C) shareholders
• D) employees
• E) strategic partners

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Definitions:

Assembly Department

A division within a manufacturing plant where components are put together to create a final product.

Cost Reconciliation Report

A financial report that reconciles estimated costs with actual costs incurred, often used in manufacturing to track material, labor, and overhead costs against budgeted or standard costs.

Work in Process Inventory

Represents the cost of unfinished goods in the production process, including labor, materials, and overhead.

Service Department Costs

The expenses incurred by support departments within a company that do not directly contribute to profit but provide necessary services.