Describe at Least Three Traits or Characteristics of a Core

question 79

Essay

Describe at least three traits or characteristics of a core competence.Where in an organization can a core competence be found and what is involved in building and strengthening a core competence? Give three examples of a core competence.

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Definitions:

Perpetual Inventory System

An inventory tracking system where updates are made continuously as transactions occur, providing real-time inventory levels.

Gross Method

An accounting method where purchases are recorded at their gross price, without deducting any discounts at the time of purchase.

Merchandise

Products or goods that are bought, sold, or traded in the course of business.

Trade Discount

A reduction from the list price granted by a seller to a buyer, often based on volume or trade practices.