are used by managers to measure whether their firm has developed the core competencies that it needs to achieve a sustainable competitive advantage.

Strategic Reference Points

Explanation:

'Strategic Reference Points' are elucidated as the reference points that the managers of an organization/firm employ to measure that if their firm has been able to achieve the internal potential or competence that they require to achieve the continuous competitive advantage which is pre-requisite to accomplish their strategic goals. It helps the managers to assess the strength and ability of their organization and make strategic commitments and decide the priorities of the firm to ensure its effective and efficient growth. Therefore, 'strategic reference points' is the answer.