Question

Cloud Cones is a fast-growing chain of ice cream shops. It has acquired an edge over its competitors through its ability to provide a wide array of unique flavors and a hip atmosphere in stores. This advantage of Cloud Cones best exemplifies a ____.

Answer 1

Answer: Core competency

Explanation:

Core competency is defined as the harmonized combination of several resources and skills that differentiates a firm in the market. Core competency are foundation of a firm's competitiveness as it gives potential access to a several markets, makes a positive contribution to customer benefits of the end product and can be difficult to copy by competitors.

For example, a firm's core competencies can include fine optics, precision mechanics, and micro-electronics which will help in building cameras.

Answer 2

Answer:

Core competency

Explanation:

Core competency are the defining strengths and characteristics that make a business out from the competition. It is a strategy that makes a business unique.Identifying and making use of core competencies is seen as important for a new business making its mark or an established organisation trying to stay on top.

A company's core competency cannot be easily replicated by other existing organizations or new entries into its market.