The Impact of Core Competencies on Competitive Advantage - Essay
The Impact of Core Competencies on
Competitive Advantage
1. Introduction
Companies need to learn to manage tomorrow's opportunities as competently as they manage today's businesses. The discovery of new competitive space is helped when a company has a class of technology generalists that can move from one discipline to another. The new market development can be geared up by developing the capability to redeploy the human resources quickly from one business opportunity to another. It is the top management's responsibility to inspire the organization with a view of distinct goals and help them to achieve and reach the set target.
Building core competence becomes essential to competitive advantage building. The organizations need to build its strategies within different clear scenarios, in different ways, based on different competencies for the purposes of achieving real advantages in the shadow of unknown, risk, and uncertain future. Therefore, The ultimate purpose of this study is to investigate the impact of core competencies on competitive advantage.
2. Core Competence
Much of the research on competitive advantage focused on core competencies as a major source of that advantage, core competencies include the particular set of skills and resources affirm possesses as well as the way those resources are used to produce outcomes.
The concept of core competence, as fundamental to organizational renewal and as a driving force behind strategic change, interests both managers and scholars. It is a complex and challenging concept: it is difficult to specify theoretically, to identify empirically as a phenomenon, and to apply in practice. Scholars have recently recognized these problems in general conceptual discussions and in core competence-specific empirical research.
Competencies are commonly agreed to reside in individuals and teams of individuals, implying that the competence concept involves a cumulative hierarchy. This cumulative hierarchy notion
Competitive Advantage
1. Introduction
Companies need to learn to manage tomorrow's opportunities as competently as they manage today's businesses. The discovery of new competitive space is helped when a company has a class of technology generalists that can move from one discipline to another. The new market development can be geared up by developing the capability to redeploy the human resources quickly from one business opportunity to another. It is the top management's responsibility to inspire the organization with a view of distinct goals and help them to achieve and reach the set target.
Building core competence becomes essential to competitive advantage building. The organizations need to build its strategies within different clear scenarios, in different ways, based on different competencies for the purposes of achieving real advantages in the shadow of unknown, risk, and uncertain future. Therefore, The ultimate purpose of this study is to investigate the impact of core competencies on competitive advantage.
2. Core Competence
Much of the research on competitive advantage focused on core competencies as a major source of that advantage, core competencies include the particular set of skills and resources affirm possesses as well as the way those resources are used to produce outcomes.
The concept of core competence, as fundamental to organizational renewal and as a driving force behind strategic change, interests both managers and scholars. It is a complex and challenging concept: it is difficult to specify theoretically, to identify empirically as a phenomenon, and to apply in practice. Scholars have recently recognized these problems in general conceptual discussions and in core competence-specific empirical research.
Competencies are commonly agreed to reside in individuals and teams of individuals, implying that the competence concept involves a cumulative hierarchy. This cumulative hierarchy notion