Discuss and explain the three criteria that a core competence must meet if it is to create value and to provide a viable basis for synergy among the businesses in a corporation.
What will be an ideal response?
Feedback: For a core competence to create value and provide a viable basis for synergy among the businesses in a corporation, it must meet three criteria: (1) The core competence must enhance competitive advantage(s) by creating superior customer value; (2) Different businesses in the corporation must be similar in at least one important way related to the core competence; and (3) The core competencies must be difficult for competitors to imitate or find substitutes for.
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Indicate whether the statement is true or false
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Answer the following statement true (T) or false (F)
A good or service purchased to satisfy personal and family needs is a(n) ________ product
A) Convenience. B) Industrial. C) Specialty. D) Shopping. E) Consumer.