Taking an external focus to identify a firm's key resources and capabilities, we begin with industry
A)benchmarks.
B)trends.
C)key success factors.
D)alliances.

Question

Quizplus · Accepted Answer

Key success factors (KSFs) are the critical resources, skills, or abilities that a firm must possess to compete successfully in a given industry. By analyzing the KSFs of the industry, a firm can identify its own key resources and capabilities that allow it to create competitive advantage. Industry benchmarks and trends may provide useful information, but they do not explicitly focus on the resources and capabilities of the firm. Alliances may be a source of resources and capabilities, but they are not the initial focus of identifying them.

Taking an External Focus to Identify a Firm's Key Resources