Question

By emphasizing core competencies when selecting and implementing strategies, what can be achieved?

1) Increased profitability
2) Improved customer satisfaction
3) Enhanced competitive advantage
4) All of the above

Answer 1

By emphasizing core competencies when selecting and implementing strategies, businesses can achieve increased profitability, improved customer satisfaction, and enhanced competitive advantage.

Step-by-step explanation:

By emphasizing core competencies when selecting and implementing strategies, you can achieve all of the following:

1. Increased profitability: Focusing on core competencies allows a business to excel in a specific area, resulting in higher efficiency and productivity, which in turn leads to increased profits.
2. Improved customer satisfaction: When a business focuses on its core competencies, it can better meet customer needs and expectations, resulting in higher customer satisfaction and loyalty.
3. Enhanced competitive advantage: By leveraging their core strengths, businesses can differentiate themselves from competitors and gain a competitive edge in the market.