What are the core competencies?
- Core competencies are assets and capabilities that incorporate the strategic benefits of an organisation. It is debated within modern management theory that a company should ensure they define, exploit, and cultivate its core competencies this is to succeed against the competition.
- It is important to list your core competencies, even your personal core competencies such as problem-solving skills, creative thinking etc.
- Core competencies define characteristics that create a company or a person standing out from the competition.
- Recognizing core competencies is key for new companies to make a mark trying to stay competitive.
- Businesses assets, people, capital, brand equity can provide a company’s core competencies.