Critical To Leverage The Core Competencies of Different Companies to Offer Unique Products

Success Belongs To Those Who Identify & Collaborate With Expert Companies

In layman’s terms the core competencies could be understood as the ability to do a particular task uniquely well. In core competencies the goal is not to list the strengths, but to list strengths which are very hard to emulate. A company will have core competence if it meets the following three criteria:

1. Your core strengths are unique. It is very rare to find such skill gets. We have moved from era where generalist with general skills were required to era where  the highest degree of work specialization is required
2. The core strength is sustainable over a period of time. For example, Toyota has special manufacturing strengths to make products just in time. By virtue of this strength they can offer customers with variety of options. By hiring the best mechanical engineer, a competitor will not be able to compete with Toyota. Due to its continuous improvement of its manufacturing process. Toyota has developed unbeatable skills in manufacturing
3. The core strength is continuously improved with no scope of any other company being able to compete with you in the chosen area. By the time someone copies your core strengths, you should have advanced sufficiently ahead leaving gap between you and your competitor