7.3b Core Competences Flashcards
1
Q
Core competences definition
A
The unique abilities of a business that enable it to achieve a competitive advantage
2
Q
What is a key strategy of core competences?
A
Outsourcing
3
Q
Businesses must not assume what when it comes to core competences?
A
That they will remain as a permanent fixture
4
Q
What are the three ways that Prahalad and Hamal outlined to assess whether something is a core competency?
A
- Does it make a significant contribution?
- Does is help to provide potential access to a wide variety of market?
- Is it difficult for competitors to replicate?
