Submitted by wetinsun on November 12, 2007

• Category: Business
• Words: 586
• Pages: 3
• Views: 151
• Popularity Rank: 1698

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Core Competencies

The central idea of this article by Prahalad & Hamel is that over time companies may develop key areas of expertise which are distinctive to that company and critical to the company's long term growth. Core competencies are those capabilities that are critical to a business in achieving competitive advantage. The starting point for analyzing core competencies is recognizing that competition between businesses is as much a race for competence mastery as it is for market position and market power. Senior management cannot focus on all activities of a business and the competencies required to undertake them. So it is for the management to focus attention on competencies that really affect...

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