The key to success is:
A)Having a clear understanding of a firm's strengths and weaknesses and in particular to base strategy on the exploitation of key strengths.
B)Having a strong main core competence that a firm may rely upon to build its strategy
C)Being well-placed to exploit a monopoly position
D)Having key strengths based on low cost.

Question

Quizplus · Accepted Answer

A clear understanding of a firm's strengths and weaknesses is important for developing a successful strategy. By focusing on exploiting key strengths, a firm can gain a competitive advantage over its rivals. This approach allows a company to differentiate itself from the competition and build a sustainable competitive advantage. Option B may not be applicable in all cases, and option C may not be ethical or legal. Option D may not be sustainable in the long run as low cost may not be sufficient to maintain market share.

The Key to Success Is