A company's strengths are important because theyMultiple Choicepave the way for establishing a low-cost advantage over rivals.provide extra muscle in helping lengthen the company's value chain.provide extra organizational muscle in turning a core competence into a key success factor.represent the quality of its competitive assets that enhance its competitiveness in the marketplace.give it competitive protection against the industry's driving forces.

A company's competitive strategy shouldMultiple Choicebe supportive with its objective to become at least an average performer within its industry.be well attuned to doing an outstanding job of satisfying the needs and expectations of niche buyers.ensure it is designed to concentrate on a small range of products so it can react quickly to competitive moves.be well matched to its resources and capabilities in order to incorporate standard attributes into its product offering.be well matched to its internal situation and predicated on leveraging its collection of competitively valuable resources and competencies.

What are attributes of a company that give it a competitive advantage or superior position?WeaknessesOpportunitiesThreatsStrengths

Which one of the following is not something that can be learned from doing a competitive strength assessment?Multiple Choiceidentifying the competitive factors where a company is strongest and weakest vis-à-vis key rivals and the kinds of offensive/defensive actions the company can use to exploit its competitive strengths and reduce its competitive vulnerabilitiesthe extent to which a company’s customer value proposition is superior to its rivals’which of the rated companies is competitively strongest and what magnitude competitive advantage it enjoyswhether a company has a net competitive advantage or a net competitive disadvantage relative to key rivals (as indicated by the differences among the companies’ competitive strength scores)which rival company is competitively weakest and the areas where it is most vulnerable to competitive attack

A sustainable competitive advantage is gained when a companyMultiple Choicehas sufficient resources to expedite its strategy.has durable competitive assets that are central to its strategy and superior to those of rival firms.realizes its inherent weaknesses are transformable to advantages.can stand out relative to rivals because of resource utilization.has resources in well-populated geographical locations.

why is it important to know a company’s strengths and weaknesses?