Which of the following is correct? A. Unselected KSFs are both necessary and sufficient for competitive advantage. B. Unselected KSFs are often important, but not necessary for competitive advantage. C. Unselected KSFs are often necessary, but not sufficient for competitive advantage.

Question

Business

Anaya Mata

3 November, 12:48

Which of the following is correct? A. Unselected KSFs are both necessary and sufficient for competitive advantage. B. Unselected KSFs are often important, but not necessary for competitive advantage. C. Unselected KSFs are often necessary, but not sufficient for competitive advantage.

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Answers (1)

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Jester · Answer 1

The correct answer is C. Unselected KSFs are often necessary, but not sufficient for competitive advantage.

Explanation:

The KSF are the elements that allow the entrepreneur to achieve the objectives that have been set and distinguish the company from the competition making it unique.

Commonly in the business plan formats the expression "key success factors" appears as a determinant of how good or bad a business can be in the long term and is one of the sections of this document in which investors place greater emphasis, since through it they can evaluate the real competences of the business.

Beyond investors and business plans, it is important that the entrepreneur knows with certainty what these factors are that make his project unique because if he does not identify them, he cannot know how he will compete in the market, nor because the clients will prefer his products or services.