CORE COMPETENCIES

• "Companies need to understand fully theircore competencies and capabilities in order to successfully exploittheirresources (Javidan, 1998)"

• Core competence is among the best-known strategic managementconcepts. A core competence it is believed to constitute and sustain the firm’s competitive advantage. The importance of core competencies fororganisations is explored, in addition to technical capacities as one of the elements that allow organisations to be competitive in the market.

• Core Competencies Definition

• "Core competencies are capabilities the firmemphasises and performs especially well while pursuingits vision."Core competencies can lead to competitive advantage when companies create value for customers exceedingthe value created by theircompetitors (Ireland et al., 2010:82).