What term refers to competitive assets that a company closely integrates around one or more cross-functional capabilities?

The term that refers to competitive assets closely integrated around one or more cross-functional capabilities is "bundles." In the context of strategic management, bundles are collections of resources and capabilities that work together to create value, enhance competitive advantage, and enable a company to respond effectively to market demands.

When resources and capabilities are bundled, they can leverage each other's strengths, thereby providing more significant advantages than if they were utilized individually. For instance, combining advanced technology with skilled personnel results in improved efficiency and innovation, which can significantly impact a company's competitiveness in the market.

Capabilities, while relevant, refer more broadly to a company's ability to effectively use its resources to achieve desired outcomes. Similarly, assets denote individual resources without the implication of their integration into a synergistic whole. Competencies emphasize the specific areas of proficiency and expertise within an organization, but do not inherently capture the notion of a cohesive bundle of competitive assets designed to optimize performance. Hence, bundles capture the concept of integrated competitive assets effectively.