Final answer:
Achieving and leveraging core competencies is essential for organizations to gain a competitive advantage in the marketplace.
Step-by-step explanation:
True: Achieving and leveraging core competencies is essential for organizations to gain a competitive advantage in the marketplace. Core competency refers to the unique strengths and capabilities of an organization that allow it to outperform competitors in producing goods or services more effectively. By focusing on their core competencies, companies can specialize and become more efficient, which in turn leads to increased customer satisfaction, higher market share, and ultimately, greater profitability.
For example, Apple's core competency lies in innovative design and user experience, which has helped them establish a strong competitive advantage in the market for smartphones and computers. By continuously investing in research and development and leveraging their core competencies, Apple has been able to differentiate themselves from competitors and maintain a leading position.
Overall, organizations that identify, cultivate, and effectively utilize their core competencies are better positioned to succeed in the competitive marketplace.