A Core Competence

question 85

Multiple Choice

A core competence

• A)detracts from a company's arsenal of competitive capabilities and competitive assets and is not a resource strength considered to be genuine.
• B)is typically results-based, residing in a company's tangible physical assets on the balance sheet.
• C)is often grounded in a single department's set of knowledge and expertise.
• D)is an activity that a firm performs proficiently that is also central to its strategy and competitive success.
• E)is a proficiently performed external activity.

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Definitions:

Agent's Compensation

The payment or reward given to an agent for services performed as outlined in the agency agreement between the agent and the principal.

Contract Law

The body of law that governs the formation, execution, and enforcement of agreements between parties, ensuring the legality of transactions and obligations.

Power of Attorney

A legal paper that provides one individual the power to represent another individual in legal or financial affairs.

Agency Agreement

A contract where one party (the agent) agrees to represent or act for another party (the principal) in business dealings with third parties.