Why Do a Company's Core Competencies Matter in Crafting Strategy

question 12

Essay

Why do a company's core competencies matter in crafting strategy?

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Definitions:

ERP Systems

Enterprise Resource Planning systems are integrated management software platforms that help organizations automate and manage core business processes for optimal performance.

Ongoing Process

A continuous operation or sequence of actions that proceed without interruption in a repeated cycle.

Off-The-Shelf Coding

Pre-existing software codes or solutions that can be readily used without the need for customization.

Lot-Sizing Technique

Strategies used in inventory management to determine the optimal order quantity that minimizes total inventory costs.