Core competency

Core competency is an organization's major value-creating capability that determines its competitive weapons.

Definitions

According to Management by Robbins and Coulter (14th edition),

Core competency. An organization's major value-creating capability that determines its competitive weapons.

According to the HRBoK Guide,

Core competency. Specific expertise. The skills or knowledge that an organization or employee needs to do work.

Aspects

Basics

To be the Competency, it shall:

1. Benefit customers. The Competency shall be a source of competitive advantage and make a significant contribution to perceived customer benefits.
2. Help the seller of the market exchangeable access markets. The Competency shall have applications in a wide variety of markets.
3. Be difficult for the seller's competitors to imitate.

VIRO filter

VIRO stands for Valuable, hard to Imitate, Rare, and an Opportunity to exploit.