Which of the following statements is most correct? A. KSFs are often necessary, but not sufficient for competitive advantage. B. KSFs are neither necessary nor sufficient for competitive advantage. C. KSFs are often sufficient, but not necessary for competitive advantage. D. KSFs are both necessary and sufficient for competitive advantage. E. None of these statements are correct.

Question

Business

Emily Ford

10 May, 19:53

Which of the following statements is most correct? A. KSFs are often necessary, but not sufficient for competitive advantage. B. KSFs are neither necessary nor sufficient for competitive advantage. C. KSFs are often sufficient, but not necessary for competitive advantage. D. KSFs are both necessary and sufficient for competitive advantage. E. None of these statements are correct.

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Answers (1)

Know the Answer?

Walker Bowers · Answer 1

A. KSFs are often necessary, but not sufficient for competitive advantage.

Explanation:

KSF

Key Success Factors (KSFs) represent business functions, practices or business activities as defined or seen by the customers or the market as being important or crucial to the development of consumer/business relationship.

KSFs represent areas organisations are to attend to based on the views of the market in order to achieve their goals. It could be in form strengths to maximize, weaknesses to address, aspects to take advantage of among others.

It becomes obvious that although important (from the view of the market or consumers who patronize the business), a business must makes its own due diligence in form of SWOT analysis among others to have the required competitive advantage.