Putting together a capable top management team with the right mix of experiences, skills, and abilities

should take top priority in building competitively valuable core competencies.

is particularly important when the firm is pursuing unrelated diversification or making a number of new acquisitions in related businesses.

$$ is important in building an organization capable of proficient strategy execution, but is nearly always less crucial than doing a superior job of training and retraining employees.

entails filling key managerial slots with smart people who are clear thinkers, good at figuring out what needs to be done, and who are skilled in "making it happen" and delivering good results.

$$ is particularly essential for exformuting a strategy to keep a company's costs lower than rivals and become the industry's lowcost leader.