Final answer:
Strategy in a business context is aimed at establishing a competitive advantage, often by focusing on core competencies, which enables a company to perform better than its competitors. Specializing in a few products or services rather than a wide range can help maintain that advantage. The right answer is option C)
Step-by-step explanation:
When considering strategy within a business context, it involves a set of activities designed to achieve a specific goal. Strategy is often focused on establishing a competitive advantage in the market, which can involve specializing in core competencies — the unique strengths that allow an organization to outperform competitors. A core competency might be an exceptional product, a unique service, or a particular business model that delivers value to customers.
Businesses know that trying to make a wide range of products can dilute their strengths, making them less competitive. By concentrating on their specialized abilities or products, firms can stake out a competitive advantage that differentiates them in the market. This is crucial for a company's survival and success as it navigates through the challenges of market competition and strives to achieve a dominant position.
Achieving market dominance might be a side effect of a strong competitive advantage, and while employee satisfaction is important for a productive workspace, it is not the primary goal of business strategy. Personal achievements are also not the main focus of business strategy. Therefore, the correct answer to the question is c) Competitive advantage.