BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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internal audits
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distinctive competencies
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external audits
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interrelated properties
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internal properties
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Detailed explanation-1: -Within large organizations, each division has certain strengths and weaknesses. A firm’s strengths that cannot be easily matched or imitated by competitors are called distinctive competencies. Building competitive advantages involves taking advantage of distinctive competencies.
Detailed explanation-2: -Imitation of distinctive competencies: Strategic imitation is the practice of duplicating another firm’s distinctive competence and thereby implementing a valuable strategy. Some distinctive competencies, however, cannot be imitated.
Detailed explanation-3: -Answer and Explanation: The correct option is B) distinctive competencies.
Detailed explanation-4: -Competitive advantage requires an organization to develop a distinctiveness that competitors do not have and cannot easily imitate. The identification of distinctiveness through a focus on the internal environment is intended to answer the strategic question “What should the organization do?"
Detailed explanation-5: -Core competencies are the defining products, services, skills and capabilities that give a business advantages over its competitors. Put another way, business core competencies are competitive advantages that no competitor can reasonably offer or replicate.