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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 Strategic Capability Network is therefore a modeling technique and network analysis method that expresses both the Leonard model of Core, Enabling and Supplemental capabilities, the Hamel and Prahalad notion of core competencies and, given EA's time dimension of enterprise evolution, the Dynamic Capabilities Theory.
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 ...
A core competency is, for example, a specialised knowledge, technique, or skill. [27] Yang (2015) concluded, with the examination of a long-term development model, that developing core competencies and effectively implementing core capabilities are important strategic actions for any enterprise in order to pursue high long-term profits.
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 International Project Management Institute has divided the project management competencies into three categories: technical, behavioral and structural-environment. According to this standard, we need 46 elements to describe the competency of the project manager (a professional specialist who plans and controls the project).
For example, business capability models can be color-coded to distinguish core capabilities from non-core ones and thereby identify the opportunities for outsourcing. While core capabilities should be cultivated and mastered within an organization, non-core capabilities can be considered as good candidates for outsourcing with minimal business ...
Competence-based strategic management is a way of thinking about how organizations gain high performance for a significant period of time. Established as a theory in the early 1990s, competence-based strategic management theory explains how organizations can develop sustainable competitive advantage in a systematic and structural way.