Which of the following statements is most correct? Select one:

a. KSFs are both necessary and sufficient for competitive advantage.

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

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

d. KSFs are neither necessary nor sufficient for competitive advantage.

e. None of these statements is correct.

Question

Social Studies

Bronson Sawyer

28 March, 06:09

Which of the following statements is most correct? Select one:

a. KSFs are both necessary and sufficient for competitive advantage.

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

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

d. KSFs are neither necessary nor sufficient for competitive advantage.

e. None of these statements is correct.

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Answers (1)

Know the Answer?

Emilia Mayo · Answer 1

Answer: (A.) KSFs are both necessary and sufficient for competitive advantage.

Explanation: Key success factor (KSF) is a process whereby the customers access a firm to and gives them a feedback on their strengths, weakness and generally areas they need to improve on. These factors are determined by customers who consume the goods/services of that company and these factors are vital to the optimal company-customer relationship.

Key Success Factors (KSF) are generally areas that a company needs to pay keen attention to, in order to achieve its goals.

KSF if properly used can give a company an added advantage in a very competitive market, as the goods/services they would deliver would effectively match with the demands of their customers/target market.