Aset of skills, talents, and capabilities in which a firm is particularly strong is referred to as a. differentiation. b. core competencies. c. key success factors (ksfs). d. experience differentiation.

B. Core competencies

Explanation:

The key success factors are the factors that ensure success. The factors are classified into five categories Plan, Processes, People and Power. These factors are a part of Dominant strategy. Another strategy that is required is the Contingency strategy.

Experience differentiation the ability of an organization to make something unique which gives a unique experience to the customer.

The core competencies are defined as the combination of multiple factors which work in harmony and provides an advantage to the firm.

A set of skills, talents, and capabilities in which a firm is particularly strong is referred to as core competencies. A core competency is C.K. Prahalad and Gary Hamelin’s concept in management theory.  

EXPLANATION  

The idea or conception of “core competencies” can be described as "a harmonious combination of various skills and resources that makes management different from other companies". The following three core competencies must be applied:

1.Having a unique product that is difficult for competitors to imitate.

2.Its products are able to provide significant contributions or benefits to customer problems.

3.Provides a lot of potential access to various markets.

Core competence is produced from a set of skills or specific production techniques that provide added value to customers. This allows an organization to access various markets.

In 1990 C. K. Prahalad and Gary Hamel wrote an article titled "Core Corporate Competencies", in the article they described that core competencies lead to the development of core products which can then be used to create many other products that benefit consumers. Core competencies are grown through a long process, which makes a continuous improvement over a certain period instead of making instant big changes.

LEARN MORE

If you’re interested in learning more about this topic, we recommend you to also take a look at the following questions:

•C.k. prahalad would say that chinese computer manufacturer lenovo is

KEYWORD: core competency, resources, skills, C.K. Prahalad, Gary Halmel, core competence  

Subject: Social Studies

Class: 10 – 12  

Subchapter: Management Theory

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