Core competencies Flashcards
1
Q
What are core competencies?
A
What a business is good at
2
Q
Why are they important?
A
develop competitive advantage
3
Q
How can a business identify a core competency
A
It helps them access a wide variety of market
It makes a significant contribution to perceived customer benefits
It is difficult for competitors to imitate
4
Q
What are some examples of this?
A
IKEA - Innovative design, wide range of flatpack furniture
Unique organisational culture- empower staff and encourage them to think in uncovential ways
Competitors can copy this furniture, do cheap products have value?
Unique stores - now being copied?
Apple- Innovative design , Apple Watch
Samsung doing this
Unique organisation culture - Apple geniuses
