3 Examples of Using Core Competencies to Innovate

By: Jessica WishartWed, Mar 15, 2017 @ 09:00 AM

In our fast moving world of innovation and disruption, some leaders may wonder if it is no longer beneficial to hone core competencies over time. Are core competencies - those unique combinations of capabilities and resources that make your business operationally different and give you a competitive edge - a strategic tool of the past? It takes years and a lot of focused energy to hone these diverse skills, activities, and technologies to near perfection, or to the point that they would be too difficult to replicate by competitors. So, is it still worth it to play the long game in our rapidly changing marketplace? 

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Topics: Core Competencies

How to Leverage Your Core Competencies to Create a Competitive Advantage

By: Alan GehringerSun, May 22, 2016 @ 12:00 PM

I have helped many companies identify their core competencies through the years, and doing this can really make a difference in the products or services you provide to your customer. Core competence is a concept introduced by C.K. Prahalad, professor at the University of Michigan, and Gary Hamel, management expert and founder of Strategos. They define it as “a harmonized combination of multiple resources and skills that distinguish a firm in the marketplace.”

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Topics: Strategic Planning, Think, Core Competencies

How Do Core Competencies Influence My BHAG?

By: Ted SkinnerWed, Jan 7, 2015 @ 09:00 AM

I recently had the opportunity to create content for Rhythm University, our knowledge center that is full of tools, tips, videos and lots of other fabulous content to drive your strategy into execution. I wrote about how companies can help uncover and identify their core competencies. The more I thought about core competencies, I kept thinking about how core competencies are such a critical component when setting your BHAG.

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Topics: BHAG, Core Competencies

Revisit Your Strategy In Quarterly Planning

By: Kristi BurnsWed, Jun 20, 2012 @ 08:20 AM

Quarterly Planning sessions are meant to define key initiatives that will be focused on over the next 90 days in support of your company's BHAG (Big Hairy Audacious Goal; your 10-25 year objective). 

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Topics: Quarterly Planning, Business Execution, BHAG, Core Competencies