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:

Private Enterprise System

An economic system where private individuals or businesses own capital goods and operate with minimal government intervention.

Equilibrium Price

The market price at which the quantity of goods supplied equals the quantity of goods demanded, resulting in a stable market condition.

Economic Choices

Decisions made by individuals, firms, or governments regarding the allocation of resources and the distribution of goods and services.

Pure Competition

A market structure characterized by many sellers offering identical products, where no single seller has any influence over market price or conditions.