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IFMA comprises three types of networking groups, collectively called components. This includes sub-groups by region (136 local chapters), facility type or area of practice (16 industry councils) and specialization or core competency of focus (7 communities). [12] These 7 communities are as follows:
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-based learning or competency-based education is a framework for teaching and assessment of learning. It is also described as a type of education based on predetermined "competencies," which focuses on outcomes and real-world performance. [ 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.
A competency dictionary is a tool or data structure that includes all or most of the general competencies needed to cover all job families and competencies that are core or common to all jobs within an organization (e.g., teamwork; adaptability; communication).
At its essence, core competence includes involvement, commitment and communication, transcending organizational boundaries and hierarchies, while fostering a culture of inclusivity within the organization. [23] At the nexus between 'core competences' and 'end products' are the core products. Core products are the physical components (e.g ...
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.
Modern Competency Management. The problem with traditional competency management is that it perceives competency development as specific event-based interventions (e.g., "manage training"). Newer definitions take into account that unlike training, which is an event, learning is a process that should never end.
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