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One reasonable position is that "core competencies" are a view of "core capabilities" from a customers and products perspective while "core capabilities" are a view of "core competencies" from the perspective of knowledge and skills and staff and suppliers in firms. This may reflect the philosophical biases of their respective institutions.
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.
The competitiveness of a company is based on the ability to develop core competencies. [24] A core competency is, for example, a specialised knowledge, technique, or skill. [25] Yang (2015) concluded, with the examination of a long-term development model, that developing core competencies and effectively implementing core capabilities are ...
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 ...
She defined a 'core capability' as a set of knowledge that distinguishes a company strategically. Core capability wasn't new concept, back in the '90s. Other scholars have also referred to it using various terms like distinctive competences, core competencies, resource deployments, and invisible assets. Leonard was however the first to ...
Core competency is part of a branch of strategy called the resource-based view of the firm, which postulates that if activities are strategic as indicated by the value chain, then the organization's capabilities and ability to learn or adapt are also strategic. [6]
They do this typically through leadership development and competency management. [3] HPOs will develop a clear set of core competencies that they want the organization's employees to master. They will invest in keeping these competencies prominent through training and development.
Top-level business capabilities can be also organized according to main organizational functions, e.g. enable, manage and run, or aligned to core activities of the value chain, e.g. logistics, operations, sales and service. Underlying lower-level business capabilities are naturally more numerous and fine-grained.