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Corecompete

Corecompete
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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. [2] Core competencies fulfill three criteria:[1] Provides potential access to a wide variety of markets. Should make a significant contribution to the perceived customer benefits of the end product. Difficult to imitate by competitors. For example, a company's core competencies may include precision mechanics, fine optics, and micro-electronics. These help it build cameras, but may also be useful in making other products that require these competencies.[1] Core Competence A core competency results from a specific set of skills or production techniques that deliver additional value to the customer. These enable an organization to access a wide variety of markets.

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