INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which among the following conditions is included in the concept of core competencies which a business activity must meet?
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The business should have enough facilities.
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The business should have customer-oriented staff.
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The business should be rare.
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The business location must have enough space.
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Explanation:
Detailed explanation-1: -Prahalad and Gary Hamel review three conditions a business activity must meet in order to be a core competency: The activity must provide superior value or benefits to the consumer. It should be difficult for a competitor to replicate or imitate it. It should be rare.
Detailed explanation-2: -Competency: The combination of observable and measurable knowledge, skills, abilities and personal attributes that contribute to enhanced employee performance and ultimately result in organizational success.
Detailed explanation-3: -Skills and Knowledge Base. Technical Systems. Managerial Systems. Values and Norms. 16-Jan-2017
Detailed explanation-4: -Communication. Thinking. Personal and Social. 23-Jul-2020
There is 1 question to complete.