The Core Competencies Of The Australis Aquaculture Company

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:

Aquaculture can be defined as farming of aquatic organisms such as fish, crustaceans, molluscs and aquatic plants both in freshwater and saltwater. It has a wide range of ownerships from small family business to multimillionaire global industries.1It provides many job opportunities throughout the world. As an example Canadian aquaculture industry valued $ 5 billion Canadian dollars provides more than 130 000 jobs only in Canada.2Accelerated growth of aquaculture causes series of problems to both human health and environment.3Most bacterial species resides both in animals and well as in human will pathogenic to both. transfer of pathogens between the two host species is a common situation for most organisms.4 Most of the developing country aquatic farms are non-hygienic and stressful. This will lead to an increase of bacterial infection among most aquatic species. As a preventative and curative method farmers mix a huge amount of antimicrobial products with the aquatic feed.5 Since aquaculture is a global industry, Implemented laws and regulations are different from country to country. It is very difficult to implement global regulations relating to antimicrobial use.1

In order for a firm to create competitive advantage, it needs to create a set of activites that can deliver value to the specific product and services it offers to its customers. To start talking about my life as a “value chain”, I may need to compare it to a specific product”. This is going to take precedence both in my personal life and professional life.

* Resources and capabilities serve as a source of competitive advantage for a firm over its rival.

“We all have competencies. They are the sum of our experiences and the knowledge, skills, values, and attitudes we have acquired during our lifetime” (Pickett, 1998, p. 103). A successful organization will have a set of competencies defined. Having competencies identified outlines the framework of standards that a company and employees should follow. There is a tendency to list a large number of competencies when creating the standards for an organization. Companies should focus on five to seven key core competencies that are needed in order to be successful. The core competencies should encompass the growth of the company, staff, and public perception.

The core competency is a unique characteristic which cannot be easily replicated by competitors. It is defined as the main strengths or strategic advantages of a business. Core competencies are the combination of knowledge, ability, and expertise which contributes to continue growth of the organization and the commitment to deliver value to the customers. Therefore, core competence in healthcare is essential; it is the bridge to quality of care, opportunities for developing and improving skills to be successful.

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)

“Competitive Advantage introduces the concept of the value chain, a general Framework for thinking strategically about the activities involved in any business and assessing their relative cost and role in differentiation”. Michael Porter, (1985).

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.

Core Competencies: The Company is full of assurance and potential. Each and every day represents a new opportunity to share Vision, strategy and style.

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

Core competency is a unique skill or technology that creates a distinct value for customers. For example, the basic efficiency Federal Express (former Fed) is the logistics department. Unique organizational capabilities are created primarily in the collective knowledge of people as well as the organizational system that influences the way staff interact. As the organization grows, develops and adapts to the new environment, so core competencies also adjust and change. Thus, core competencies are flexible and develop over time.

Core competency is said to resource allocation, capabilities, knowledge, skills, and expertise along side price chain. It wants 3 elements: skills, resources and processes, and it is communication,

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