The Requisite Skills That All Firms in an Industry Must

question 20

Multiple Choice

The requisite skills that all firms in an industry must possess in order to be viable competitors are called ________.

• A) strengths
• B) rare resources
• C) key success factors
• D) dynamic capabilities

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Definitions:

Operating Activities

Business actions directly related to the production and delivery of goods and services, generating the primary revenue streams.

Equipment

In business, equipment refers to the tangible assets used in operations, such as machinery, computers, and tools, which are not intended for sale.

Depreciation Expense

The portion of the cost of a fixed asset that is considered consumed during its period of use by a business.

Prepaid Expenses

Costs incurred before receiving goods or services that are expected to be provided later.