core competence

core competence
Gen Mgt, HR
a key ability or strength that an organization has acquired that differentiates it from others, gives it competitive advantage, and contributes to its long-term success. The concept of core competence is most closely associated with the work of Gary Hamel and C. K. Prahalad, notably in their book Competing for the Future (1994). They describe core competences as bundles of skills and technologies resulting from organizational learning. These provide access to markets, contribute to customer value, and are difficult for competitors to imitate. Core competence is a resource-based approach to corporate strategy. The terms core competence and core capability are often used interchangeably, but some writers make varying distinctions between the two concepts.

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  • core competence — UK US noun [countable] [singular core competence plural core competences] business a skill or type of knowledge that makes an organization especially good at doing some things and gives it an advantage over other organizations …   Useful english dictionary

  • core competence — Primary area of expertise. Narrowly defined fields or tasks at which a company or business excels. Primary areas of specialty. Bloomberg Financial Dictionary * * * core competence core competence ➔ competence * * * core competence UK US noun [C… …   Financial and business terms

  • core competence — UK / US noun [countable] Word forms core competence : singular core competence plural core competences business a skill or type of knowledge that makes an organization especially good at doing some things and gives it an advantage over other… …   English dictionary

  • core competence — /kɔ:r kɒmpɪt(ə)ns/ noun a skill or an area of expertise possessed by an organisation that makes it particularly good at doing some things and makes an important contribution to its success by giving it competitive advantage over other… …   Marketing dictionary in english

  • Core competency — A core competency is a concept in management theory originally advocated by CK Prahalad, and Gary Hamel, two business book writers. In their view a core competency is a specific factor that a business sees as being central to the way it, or its… …   Wikipedia

  • Competence — Sufficient ability or fitness for ones needs. Possessing the necessary abilities to be qualified to achieve a certain goal or complete a project. The New York Times Financial Glossary * * * competence com‧pe‧tence [ˈkɒmptəns ǁ ˈkɑːm ] noun 1.… …   Financial and business terms

  • competence — Sufficient ability or fitness for one s needs. The necessary abilities to be qualified to achieve a certain goal or complete a project. Bloomberg Financial Dictionary * * * competence com‧pe‧tence [ˈkɒmptəns ǁ ˈkɑːm ] noun 1. [uncountable] also… …   Financial and business terms

  • Core competency — Primary area of competence. Narrowly defined fields or tasks at which a company or business excels. Primary areas of specialty. The New York Times Financial Glossary * * * core competency ˌcore ˈcompetency noun [countable, uncountable] another… …   Financial and business terms

  • competence — noun 1 ability to do sth well ADJECTIVE ▪ great ▪ basic ▪ academic, administrative, clinical, managerial, professional, technical …   Collocations dictionary

  • core capability — /kɔ:r keɪpə bɪlɪti/ noun same as core competence …   Marketing dictionary in english

  • Core self-evaluations — (CSE) represent a stable personality trait which encompasses an individual’s subconscious, fundamental evaluations about themselves, their own abilities and their own control. People who have high core self evaluations will think positively of… …   Wikipedia

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