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Core competencies: Capabilities and/or technical expertise unique to an organization, i.e. core competencies differentiate an organization from its competition (e.g. the technologies, methodologies, strategies or processes of the organization that create competitive advantage in the marketplace). An organizational core competency is an ...
The skills involved can be defined by the organization or by third party institutions. They are usually defined in terms of a skills framework, also known as a competency framework or skills matrix. This consists of a list of skills, and a grading system, with a definition of what it means to be at particular level for a given skill. [1]
Competency models can help organizations align their initiatives to their overall business strategy. By aligning competencies to business strategies, organizations can better recruit and select employees for their organizations. Competencies have become a precise way for employers to distinguish superior from average or below average performance.
Organization development (OD) is the study and implementation of practices, systems, and techniques that affect organizational change. The goal of which is to modify a group's/organization's performance and/or culture. The organizational changes are typically initiated by the group's stakeholders.
A core competency is a concept in management theory introduced by C. K. Prahalad and Gary Hamel. [1] It can be defined as "a harmonized combination of multiple resources and skills that distinguish a firm in the marketplace" and therefore are the foundation of companies' competitiveness.
In the Dynamic Capabilities Theory, "Resources" are firm-specific assets that are difficult for competitors to acquire or imitate, "Organizational Routines" (based on prior work of Nelson and Winter) or "Organizational Competences" are the low-level capabilities of the firm and "Core Competences" are taken from the Hamel and Prahalad concept.
Needs assessments in the training and development context often reveal employee and management-specific skills to develop (e.g. for new employees), organizational-wide problems to address (e.g. performance issues), adaptations needed to suit changing environments (e.g. new technology), or employee development needs (e.g. career planning).
Typically, an organization will also establish and maintain a competence dictionary. Modern Competency Management. The problem with traditional competency management is that it perceives competency development as specific event-based interventions (e.g., "manage training").
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