30 Nov Benefit By Delivering Unique Value to Customers by Improving Core Competencies
A Core Competency is a deep proficiency that enables a company to deliver unique value to customers. It embodies an organization’s collective learning, particularly of how to coordinate diverse production skills and integrate multiple technologies. Such a Core Competency creates a sustainable competitive advantage for a company and helps it branch into a wide variety of related markets.
It's hard for competitors to copy your core competencies.
Core Competencies also contribute substantially to the benefits a company’s products offer customers. The litmus test for a Core Competency? It’s hard for competitors to copy or procure.
Understanding Core Competencies allows companies to invest in the strengths that differentiate them and set strategies that unify their entire organization.