Why Develop a Core Competency Strategy?
Core competencies will lead you to your greatest opportunities. Once defined, your core competencies will let you exploit them and they will show you how to set your organization apart from your competition. Identifying and developing your organization’s core competencies is key to sustaining your organization’s long-term success and competitive advantage. Also, your organizations ability to lead and motivate your employees toward a common goal will become easier because your core competencies will guide your decisions. Knowing your organization’s core competencies will help you develop new products and / or services (and therefore develop new core competencies), to meet ever-changing customer and market demands. In short, they will enable you to continually deliver unique value to your customers. If you don’t define and exploit your organization’s core competencies – your competitors will; leaving you in the dust wondering why and how your HOT products and / or services are no longer
