core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
It provides customer benefits It is hard for competitors to imitate It can be leveraged widely to many products and markets. A core competency can take various forms, including technical/subject matter know how, a reliable process, and/or close relationships with customers and suppliers (Mascarenhas et al. 1998). It may also include product development or culture such as employee dedication. Modern business theories suggest that most activities that are not part of a company's core competency should be outsourced.
If a core competency yields a long term advantage to the company, it is said to be a sustainable competitive advantage.
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