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Core Competencies Case Studies

Things You Can Do
Better Than Your Competition

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Core Competencies Creating Sustainable Value Sustainable Competitive Advantages Differentiation Strategies Creating Customer Value Discover New Opportunities Market Opportunities Create Your Market Niche Vadim Kotelnikov Distinctive Corporate Capabilities

Core Competencies - definition, characteristics, benefits

     

    

 

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Defining Your Core Competences

Three Main Characteristics

❶ They should make a disproportional contribution to stakeholder value

❷ They should open doors to other opportunities

❸ They should represent such a unique blend of tacit and explicit knowledge that it cannot be copied by competitors

What Does the Core Competence Achieve?

❶ Enables the creation of new products and services that provide potential access to a wide variety of markets.

❷ Makes a significant contribution to the customer value and enables a business to deliver a fundamental customer benefits the perceived customer benefits of the end product.

❸ Helps create sustainable competitive advantage as it is competitively unique and difficult for competitors to imitate.

Individual Competencies vs. Core Competencies

Individual competencies stand alone and are generally considered in isolation.  >>>

Core competencies are harmonized, intentional constructions. They are more than the traits of individuals. Capabilities are considered to be distinctive if they differentiate a company strategically. Core competencies are aggregates of capabilities, where synergy is created that has sustainable value and broad applicability. That synergy needs to be sustained in the face of potential competition and must not be specific to one product or market.

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  • Core Technologies and Competencies leveraging and extending corporate assets... More

 

What: is Core Competency?

Core competencies are the most significant value creating skills within your corporation and key areas of expertise which are distinctive to your company and critical to the company's long term and sustainable Growth Download PowerPoint presentation, pdf e-book. Your company's core competencies are the things that you can do better than your competitors in the critical, central areas of your company where the most value is added to your products. These areas of expertise may be in any area from product development to employee dedication.

Corporate Capabilities

"A core competency is an area of specialized expertise that is the result of harmonizing complex streams of technology and work activity." ~ C.K.Prahalad

A competence which is central to your business's operations but which is not exceptional in some way should not be considered as a core competence, as it will not generate a differentiated advantage over rival businesses. Resources that are standardized or easily available will not enable a business to achieve a Sustainable Competitive Advantage Download PowerPoint presentation, pdf e-book over rivals.

Core Competence vs. Competitive Advantage

If a core competence yields a long term advantage to the company, it is said to be a sustainable competitive advantage.

Build Synergies

Master of Business Synergies Download PowerPoint presentation, pdf e-book

A corporation that builds on core competencies utilizes skills that combine to strengthen value chains and build greater competitive advantages. This leads to synergies among business units, whereby they become more productive together than independently.  >>>

Core Competence as a Team Sport

A core competence is a combination of complementary skills and knowledge bases embedded in a group or team that taken together makes it possible to provide a superior product.  >>>

Employee Empowerment

10 Commandments of Innovation

Have a Dream. Focus on your core competences and competitive advantage... More

Case Studies Tesco

Tesco was very successful in capturing leadership of the market for online grocery shopping due to the following core competencies that mean customer value the Tesco.com experience so highly... More

 

 

References:

  1. "The Core Competence of the Corporation," C.K.Prahalad and G.Hammel

  2. "Core Competence," Wikipedia

  3. "Strategic Management", Alex Miller,

  4. "Core Competencies", tutor2u.com

  5. "Every Business Is a Growth Business," Ram Charan and Noel M. Trichy