The Key to Success Is

question 65

Multiple Choice

The key to success is:

• A)Having a clear understanding of a firm's strengths and weaknesses and in particular to base strategy on the exploitation of key strengths.
• B)Having a strong main core competence that a firm may rely upon to build its strategy
• C)Being well-placed to exploit a monopoly position
• D)Having key strengths based on low cost.

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Definitions:

Festinger

Leon Festinger was a social psychologist known for the theory of cognitive dissonance, which describes the discomfort felt when holding conflicting beliefs or values.

Communicator

A person or device that conveys information or facilitates communication between parties.

Similarity

The state of being alike or sharing common features.

Credibility

The quality of being trusted and believed in, often assessed in sources of information or individuals presenting arguments.