Individual
competencies stand
alone and are generally considered in isolation.
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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
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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.
"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
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Sustainable Competitive Advantage
over rivals.
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.
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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.
>>>
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...
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