When capabilities serve as a source of competitive advantage for a firm over its rivals, the firm has created a Core competence.
What is core competence?
- Core Competence alludes to a collection of extraordinary abilities, tactics, movements, or technology that distinguishes an industry leader from an average competitor.
- It is a key factor in a company's ability to outperform its rivals and gain a competitive edge over them. The following are the three defining qualities of core competence:
- Customers see it as having value.
- It can be used in more markets.
- It makes it challenging for competing businesses to copy.
The system of the organization, which governs how employees connect with one another, and the cumulative expertise of the individuals are what make the company unique.
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