The Difference Between a Company Competence and a Core Competence

question 65

Multiple Choice

The difference between a company competence and a core competence is that

• A) a company competence refers to a company's best-executed functional strategy and a core competence refers to a company's best-executed business strategy.
• B) a company competence refers to a company's strongest resource whereas a core competence refers to a company's lowest-cost and most efficiently performed value chain activity.
• C) a company competence is a competitively relevant activity which a firm performs especially well relative to other internal activities, whereas a core competence is an activity that a company has learned to perform proficiently.
• D) a company competence represents real proficiency in performing an internal activity whereas a core competence is a competitively relevant activity which a firm performs better than other internal activities.
• E) a core competence usually resides in a company's technology and physical assets whereas a company competence usually resides in a company's human assets and intellectual capital.

Identify how third-party beneficiary rules apply to warranties in the context of the UCC.

Determine the statute of limitations for warranty claims under the UCC.

Understand the concept of warranties and their types under the UCC and the Magnuson-Moss Act.

Differentiate between implied and express warranties and their implications on sales contracts.

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Definitions:

Hemochromatosis

A genetic disorder causing excessive absorption of iron from the diet, leading to the accumulation of iron in the body and potential organ damage.

Chromat

Pertains to color, used in terms and contexts related to coloring or pigmentation, as in chromatography.

Erythrocyte

A red blood cell that is responsible for carrying oxygen from the lungs to the body tissues and carbon dioxide as a waste product away from tissues and back to the lungs.

Lymphatic System

A part of the immune system, consisting of a network of vessels, ducts, nodes, and organs that helps to maintain bodily fluid levels, defend against infections, and remove cellular waste.