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Udayan

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4

What are a company's core competences?

What are a company's core competences? Is there a framework to define them?

What are a company's core competences? Is there a framework to define them?

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Core competencies are things a company is really good at.

For example, for Coca Cola it would be things like

  • Marketing
  • Advertising
  • Making and selling Beverages
  • Setting up a cold chain
  • Distribution of goods across all geographies
  • Building a retail network
  • Etc.

It would not be the following that are required for it to be a global competitor in the beverages space

  • Software development
  • Fiancial modeling
  • Providing consulting services
  • Selling electronics
  • Etc.

Best,

Udayan

Core competencies are things a company is really good at.

For example, for Coca Cola it would be things like

  • Marketing
  • Advertising
  • Making and selling Beverages
  • Setting up a cold chain
  • Distribution of goods across all geographies
  • Building a retail network
  • Etc.

It would not be the following that are required for it to be a global competitor in the beverages space

  • Software development
  • Fiancial modeling
  • Providing consulting services
  • Selling electronics
  • Etc.

Best,

Udayan

(edited)

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Hello!

I would make hte following approach:

In my mind, think of the 5 Ps of Porter

Having those elements in mind, mention them, as well as moats and walls.

Furthermore, always see the vission and mission, gives many clues.

Hope it helps!

Cheers,

Clara

Hello!

I would make hte following approach:

In my mind, think of the 5 Ps of Porter

Having those elements in mind, mention them, as well as moats and walls.

Furthermore, always see the vission and mission, gives many clues.

Hope it helps!

Cheers,

Clara

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Hi Richard,

Core competencies are anything that I do really well as a company. In particular, it would generally be things I'm especially known for, when being compared against my competition.

Defining them is totally industry/company/case specific! As you'll see in the below list, core competencies can literally be anything!

https://www.businessnewsdaily.com/15792-business-core-competencies.html

https://www.thebalancesmb.com/core-competency-in-business-2948314

https://www.shrm.org/ResourcesAndTools/tools-and-samples/hr-qa/Pages/corecompetencies.aspx

Hi Richard,

Core competencies are anything that I do really well as a company. In particular, it would generally be things I'm especially known for, when being compared against my competition.

Defining them is totally industry/company/case specific! As you'll see in the below list, core competencies can literally be anything!

https://www.businessnewsdaily.com/15792-business-core-competencies.html

https://www.thebalancesmb.com/core-competency-in-business-2948314

https://www.shrm.org/ResourcesAndTools/tools-and-samples/hr-qa/Pages/corecompetencies.aspx

Book a coaching with Raj

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Basically what is a company really good at.

What has it been doing from Day 1? What is the cornerstone of its strategy? What is the one thing / function / ability it can't do without?

E.g. Uber/Doordash - best-in-class routing, dynamic pricing; Amazon - operational efficiencies in logistics; Google - search; Disney - franchises and merchandising across formats; McDonalds - process standardisation and consistency

Basically what is a company really good at.

What has it been doing from Day 1? What is the cornerstone of its strategy? What is the one thing / function / ability it can't do without?

E.g. Uber/Doordash - best-in-class routing, dynamic pricing; Amazon - operational efficiencies in logistics; Google - search; Disney - franchises and merchandising across formats; McDonalds - process standardisation and consistency

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