Which of the following is emphasized as a necessary resource for effective strategic planning? A) Consumer feedback systems B) Proprietary marketing frameworks C) Core competencies... Which of the following is emphasized as a necessary resource for effective strategic planning? A) Consumer feedback systems B) Proprietary marketing frameworks C) Core competencies of the company D) Complex regulatory requirements
Understand the Problem
The question is asking which resource is considered essential for effective strategic planning. The choices provided highlight different aspects of business strategy, and the question likely seeks to identify the most critical factor among them.
Answer
Core competencies of the company.
The final answer is core competencies of the company.
Answer for screen readers
The final answer is core competencies of the company.
More Information
In strategic planning, understanding a company's core competencies is vital because these are the resources and capabilities that provide a competitive edge. Identifying and leveraging these strengths allows businesses to effectively plan and adapt strategies that align with their unique advantages in the market.
Tips
A common mistake is confusing core competencies with basic business functions. Core competencies are more specialized and add unique value to a company.
Sources
- Core Competencies in Business: Finding a Competitive Advantage - investopedia.com
- Resource-Based Theory – Mastering Strategic Management - opentextbc.ca
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