Fundamentals of Management, 8th ed

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Part 2: Planning

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Emphasizing Distinctive Competencies

As we defined in Chapter 3, an organization’s distinctive competencies are the aspects of

business that the firm performs better than its competitors. The distinctive competencies

of small business usually fall into three areas: the ability to identify new niches in estab-

lished markets, the ability to identify new markets, and the ability to move quickly to

take advantage of new opportunities.