Define and explain the importance of dynamic capabilities.
Example of answer– Dynamic capabilities are important because they allow companies to keep their competitive advantages and grow through continuous improvement. Even though they may hold a resource that others don’t have at the beginning if left mismanaged it can depreciate like all other assets.
3) Define and give an example of Best Cost Provider
4) Define and give an example of Broad Differentiation.
5) Define and give an example of Focused Cost Leadership.