“IF YOU WANT TO BE SUCCESSFUL, DON’T SEEK SUCCESS – SEEK COMPETENCE; DO NOTHING SHORT OF THE BEST THAT YOU CAN DO.”
Where to Begin when Identifying Core Competency
- The starting point for understanding core competencies is recognizing “competition” between organizations is both a contest for “competence mastery” and “market position and power”.
- Careful consideration should be given to what internal capabilities the organization possesses that are recognized by customers as its competitive advantage.
- The core competency of the organization becomes the focus around which relevant business opportunities are chosen and strategic direction is defined.
Leveraging Your Core Competency
A core competency can be any area, factor, or consideration perceived by the customer that differentiates the organization and provides for a competitive edge over its rivals.
Below are typical areas where core competency can be found:
- Quality of the product or service – high above industry standards
- Fill a special niche
- Strong consumer orientation – leading to a high degree of customer intimacy
- Service levels – high above industry standards
- Operational efficiency – leading to a low-cost provider
- Reputation and brand image – established over many years of outstanding performance
- Site selection – “location, location, location”
- Special and unique technical skills of one or more people on the team
To know more about Focus on your core competencies, do read this entire article: https://www.lblstrategies.com/
Also, you can now share your questions with us and stand a chance to get them reviewed and answered by industry professionals by visiting our Q&A forum at this link:https://sncoglobal.com/#q&a
Share:
