Question

When resources and capabilities serve as a source of competitive advantage for a firm, the firm has created a(n) ________.

1) strategic mission
2) inspiring vision
3) core competence
4) sustainable market niche

Answer 1

When resources and capabilities serve as a source of competitive advantage for a firm, the firm has created a core competence.

Step-by-step explanation:

When resources and capabilities serve as a source of competitive advantage for a firm, the firm has created a core competence. Core competence refers to a unique set of resources and capabilities that enable a firm to outperform its competitors. These resources and capabilities must meet two criteria:

1. The resource must have been produced.
2. The resource can be used to produce other goods and services.

An example of a core competence is Apple's design and innovation capabilities, which have enabled the company to create highly desirable and innovative products like the iPhone and iPad.

Learn more about core competence here: