What’s your organization’s core competence

A core competence is a proficiently preformed internal activity that is central to a company’s strategy and competitiveness. It can relate to any of several aspects of a company’s business, for example: Expertise in integrating multiple technologies to create families of new products; know how in creating and operating systems for cost efficient supply chain management; the capability to speed new or next-generation products to market; skills in manufacturing a high-quality product at a low cost and the list goes on.

Most often, a core competence is knowledge based, residing in people and in a company’s intellectual capital but not in its assets on the balance sheet.

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