Which of the following exemplifies a core competency?

The ability to innovate and adapt quickly to market changes exemplifies a core competency because it showcases an organization's unique strengths that provide a competitive advantage in its industry. Core competencies are the fundamental capabilities that distinguish a company from its competitors, allowing it to respond effectively to customer demands and external market conditions.

Innovation and adaptability are essential in today's fast-paced business environment, where consumer preferences and market dynamics can shift rapidly. A firm that excels in these areas can develop new products or services more efficiently, respond to emerging trends, and pivot strategies as necessary. This flexibility and forward-thinking approach not only meet current market needs but also anticipate future developments, positioning the company favorably against its rivals.

The other options lack the distinctive qualities of a core competency. A simple manufacturing process may be efficient but does not inherently provide a competitive edge. The availability of large financial resources is beneficial, yet it does not reflect a unique ability or strength that can transform into sustained competitive advantage. Similarly, having a broad product range without specialization may dilute focus and expertise, which is contrary to the essence of a core competency that relies on deep proficiency in specific areas.