GENERAL KNOWLEDGE

Detailed explanation-1: -In the strategic management process, any organizational skills or resources that are exceptional or unique to the organization are the organization’s. Marketing niche skills.

Detailed explanation-2: -Exceptional or unique organizational resources are known as core capabilities.

Detailed explanation-3: -Typically, a core competency refers to a company’s set of skills or experience in some activity, rather than physical or financial assets. An organizational core competency is an organization’s strategic strength. Honda’s strategic strength, for example, lies in its engine and propulsion systems.

Detailed explanation-4: -Strategic management is the management of an organization’s resources to achieve its goals and objectives.

Detailed explanation-5: -Strategic competencies equip people and organizations to take position and move in a highly dynamic context that poses constantly changing challenges to the realization of their aims. Lacking such competencies undermines the ability to adapt to such changing environments, leading to increasing marginalization.