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Core Competency
:
The concept of
core competencies was developed in
the management field. Gary Hamel and
C.K.Prahlad they defined core
competency as "an area of
specialized expertise that is the
result of harmonizing complex
streams of technology and work
activity."
Context Business Group
has adopted the principals of
Core
competency by interpreting it as something
that a firm can do well and that meets the
following three conditions:
-
It provides customers
benefits
-
It is not easy for
competitors to imitate
-
It can be leveraged
widely to many
Services, 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 .It may also
include product development or culture, such
as employee dedication.
Core competencies are
particular strengths relative to other
organizations in the industry which provide
the fundamental basis for the provision of
added value.
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