Core Competencies Of An Organization

The core competency of an organization shows what makes them unique in order to have an advantage in competing with competitors in the same industry. Nordstrom’s core competency is rooted in its strategy providing superlative customer service. Nordstrom values their employees as their most valuable asset or capital in the organization.

In order to identify Verizon's core competencies, a SWOT and Five Forces analysis was performed. The SWOT analysis showed internal strengths in technology diversification, a large and talented employee resource pool, and an expansive network footprint. Internal weaknesses were revealed that centered on post merger issues such as corporate culture issues, impending workforce retirements, and a lack of systems or process consolidation. External opportunities include the potential to further capitalize on incumbent status, diverse markets, long distance, and brand identity. Finally, external threats include government regulation, substitution, and a weak economy.

Investopedia defines core competencies as “the main strengths or strategic advantages of a business.” Furthermore Investopedia describes core competencies as “the combination of pooled knowledge and technical capacities allowing a business to be competitive in the marketplace.” (Investopedia 2014). Considering these definitions, the following are Croc’s core competencies:

Focus development - The products are developed by the CEDD and the artificial barriers of product development lessen or eliminated. Increase the speed at development of compounds and products.

The Institute of Medicine (IOM) has recognized five key core competencies (CCs) that all healthcare professionals should be aware of during practice. The initial competency described concentrates on patient-centered care. Throughout history, the nursing community has continued to evolve, both in the practicing aspect and in level of caring for patients. During this evolution of nursing care, nurses providing hands on care to patients must refer to the Institute of Medicine, peer reviews and/or evidenced-based research to guide them properly as it applies to the core concepts of nursing. The first core competency according to the IOM is patient-centered care.

An article entitled, Leading Innovation in a Risk-Averse Healthcare Environment, by Michael O’Brien describes how decisions in healthcare innovation are being decided by hospital CFOs because budget plays such a large role in the ability to make health care advancements. Innovation is present on all levels, practitioners are creating new innovative medications and techniques that can boost research funding, CFOs are looking at innovative ways to restructure budgets to meet the rising cost demands and nurses and/or therapists are looking for innovative therapy applications to improve patient outcome and support successful healing once discharged from the hospital. Disruptive innovation is constantly present in medicine since this science is only a practice and is constantly evolving in the presence of new research. As a healthcare leader I encourage my peers to constantly be trying to find innovations in their practice. When a practice becomes stagnant there is limited chance for growth and an individual's motivation can be stunted. “Innovation requires that organizations let go of old work and take on new” (O’Brien, p.113)

Has a custom built facility that houses research, development and production which ranks alongside comparable competitors

(BP) happens to be one of the largest oil and gas companies in the world. There operations include the exploration and production of natural gas and crude oil; to include the refining of crude oil; and the manufacturing of petroleum products.

The objective of the Cisco executives is to emphasis consideration on competencies that truly affect its competitive advantage. Cisco core competency comes from the precise group of talents and manufacturing practices that bring extra value to the. These competencies allowed Cisco to enter an extensive range of markets.

Core competencies are the capabilities that are critical to a business achieving competitive advantage. The starting point for analysing core competencies is recognising that competition between businesses is as much a race for competence mastery as it is for market position and market power. (Prahalad and Hamel)

Core competencies are set of skills, expertise and professionalism which the service is executed (Johnston & Clark 2001). They make a firm to stand apart and develop a competitive advantage.

Every person gravitate its strengths to step up in life like the best cook in a family makes meals. The mechanically inclined person in a family fixes the broken parts at home and a plant lover takes care of the garden. Similarly, the businesses use their strengths to position themselves in the market. However they follow a formal path for developing core competencies. Successful businesses follow an exact approach to identify and define their core competencies and then jointly follow them. For example, Auto manufacturers restrict themselves only to the tasks that they do best like assembling or designing automobiles, leaving additional tasks for others. This keeps their mission clear and defined.

Core competencies are the most significant value creating skills within a company and key areas of expertise that are distinctive to a company and critical to the company's long-term growth. Core competencies are the pieces that a company is superior than its competitors in the critical, central areas of the company where the most value is added to its products. These areas of expertise may be in any area from product development to employee dedication. A competence which is central to business's operations but which is not exceptional in some way is not considered as a core competence, as it will not generate a differentiated advantage over rival businesses. It follows from the concept of core competencies; resources that are

Volkswagen goal is to become the ecological and economical leader in the automotive industry and to be the world’s leading automaker by 2018. Volkswagen has four main objectives through which they will achieve their goals.

According to Griffin & Pustay (2005), a core competency is a distinctive strength or advantage that is central to a firm¡¦s operations, and by utilising its core competency in new markets, the firm is able to increase