The word is Core Competency- A core competency is a concept in management theory introduced by, C. K. Prahalad and Gary Hamel.[1] It can be defined as a harmonized combination of multiple resources and skills that distinguish a firm in the marketplace. [2] Core competencies fulfill three criteria:[1] Provides potential access to a wide variety of markets. Should make a significant contribution to the perceived customer benefits of the end product. Difficult to imitate by competitors. Canons core competencies from the original paper are precision mechanics, fine optics, and micro-electronics.[1] All products in Canons product portfolio are based on at least one of these core competencies.
Posted on: Wed, 16 Jul 2014 07:13:53 +0000
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