Managerial Actions to Develop Core Competencies and Competitive Capabilities Internally

question 18

Multiple Choice

Managerial actions to develop core competencies and competitive capabilities internally generally take one of two forms. What are they?

• A)either strengthening the company's base of skills, knowledge, and experience or coordinating and integrating the efforts of various work groups and departments
• B)either putting in high incentive bonuses to reward individual employees who train hard to develop the desired capability or launching an extensive training effort to develop the capability quickly with newly hired employees
• C)either using benchmarking and the adoption of best practices to imitate a capability that rivals have already developed or empowering a team of employees to develop the capability however they best see fit
• D)either using developed dynamic capabilities or acquiring the capability from outside sources
• E)either by enforcing close cross-business collaboration or by centralizing the performance of functions requiring close coordination at the corporate level

---

Definitions:

Collateral Promise

A secondary promise to pay another person's debt only if that person fails to pay.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by the parties involved to be legally enforceable.

Oral Contract

An agreement between parties spoken out loud and not written down, yet still legally binding under certain conditions.

Memorandum of Agreement

A document outlining an agreement between parties before finalizing a more formal contract, detailing the preliminary terms and conditions.