Core competency can be defined as an integrated combination of numerous resources or dexterity that characterizes a firm in the marketplace.
Core competencies must fulfill three criteria:
Core competency is the outcome of a definite skill sets, or production procedures, which tend to generate additional value for the customer. This is how; an organization can access an array of markets.
The following are the examples of core competency:
Example 1:
Analytical Thinking Capabilities: Analytic thinking capabilities refer to the logical abilities to analyze and solve the problem in order to successfully complete the task.
Example 2:
Customer Services: Customer or client servicing refers to the ability of responding promptly to the customers and predict their requirements.
Example 3:
Flexibility and Adapting Capabilities: Flexibility refers to the capability of adapting as per the changing situation without shifting focus from goals and applying pervious experiences or knowledge to overcome complications and new circumstances.
The core competency strategies of any company or business organization must be highly focused. This is the strength of an organization, and thus, it must be incomparable in nature. The core competency based business assignments might appear to be difficult for you, because this is one among many other steps taken by the academic institutions in order to solidify your business knowledge and decision making.
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