Asked by Adrianaya Roettger on Jun 17, 2024
Verified
A strong management team recognizes the window of opportunity and develops competitive advantage to give a business additional leverage to exploit the market opportunity.
Management Team
A group of individuals at the top level of an organization who are responsible for making strategic decisions and ensuring the company achieves its goals.
Competitive Advantage
A condition or unique attribute that allows a company to outperform its competitors, securing a superior position in the market.
Market Opportunity
The identification of a specific market need that can be met by a new product or service, offering potential for business growth.
- Explore the significance of management strength in recognizing and leveraging market opportunities for competitive advantage.
Verified Answer
WW
Wesley WarrickJun 22, 2024
Final Answer :
True
Explanation :
A strong management team is able to assess the market and identify a window of opportunity. Once they have identified the opportunity, they can develop a competitive advantage to give their business an edge in the market. This additional leverage can help the business to better exploit the opportunity and achieve success.
Learning Objectives
- Explore the significance of management strength in recognizing and leveraging market opportunities for competitive advantage.