Core Competence Development

Core competence implies a level of uniqueness and as such provides a company with a competitive advantage. Competencies are the essential building blocks of a company, the technologies, processes, the assets and people, when combined are what make up a company's core competencies.

Many companies share similar competencies. Such competencies are referred to as basic, they provide no differentiation and can be considered 'table stakes'.

In time even the most unique and protected competencies move toward becoming basic requirements.

Full understanding of a company's core competencies is a vital element in strategy development. Understanding provides focus for development of new technologies, processes, and people. A comprehensive competency development plan is a key building block in creating sustainable competitive advantage and is a key element in all Balmoral Strategy Development strategy processes