The Benefits of Retaining a Core Competency Within a Company

question 43

Multiple Choice

The benefits of retaining a core competency within a company and purposefully threading that core competency through the value chain are referred to as ________ advantages.

• A)internalization
• B)domestic
• C)location
• D)ownership

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Definitions:

Retail Life Cycle

The retail life cycle refers to the process of growth and decline that retail outlets experience, similar to the life cycle of a product, including the stages of introduction, growth, maturity, and decline.

Market Share

The share of a market held by a certain company or product, usually represented as a proportion of the total market sales.

Profit Growth

An increase in the financial gain that results from the difference between a business's revenue and its expenses.

Retail Life Cycle

The process of growth, maturity, and decline that retail shops or formats go through, similar to product life cycles, reflecting changes in customer preferences and market dynamics.