Difference between revisions of "Core competency"
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[[Core competency]] is an organization's major value-creating capability that determines its competitive weapons. | [[Core competency]] is an organization's major value-creating capability that determines its competitive weapons. | ||
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==Definitions== | ==Definitions== | ||
According to [[Management by Robbins and Coulter (14th edition)]], | According to [[Management by Robbins and Coulter (14th edition)]], | ||
:[[Core competency]]. An organization's major value-creating capability that determines its competitive weapons. | :[[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. | ||
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| + | ==Aspects== | ||
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| + | ===Basics=== | ||
| + | :To be the ''Competency'', it shall: | ||
| + | :#Benefit [[customer]]s. The ''Competency'' shall be a [[source]] of [[competitive advantage]] and make a significant contribution to perceived customer benefits. | ||
| + | :#Help the [[seller]] of the [[market exchangeable]] access [[market]]s. The ''Competency'' shall have applications in a wide variety of markets. | ||
| + | :#Be difficult for the ''seller's'' competitors to imitate. | ||
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===VIRO filter=== | ===VIRO filter=== | ||
| − | :VIRO stands for Valuable, hard to Imitate, Rare, and an Opportunity to exploit. | + | :[[VIRO]] stands for Valuable, hard to Imitate, Rare, and an Opportunity to exploit. |
[[Category: Management]][[Category: Articles]] | [[Category: Management]][[Category: Articles]] | ||
Latest revision as of 03:44, 6 May 2023
Core competency is an organization's major value-creating capability that determines its competitive weapons.
Contents
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:
- Benefit customers. The Competency shall be a source of competitive advantage and make a significant contribution to perceived customer benefits.
- Help the seller of the market exchangeable access markets. The Competency shall have applications in a wide variety of markets.
- Be difficult for the seller's competitors to imitate.
VIRO filter
- VIRO stands for Valuable, hard to Imitate, Rare, and an Opportunity to exploit.
