core competence

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Core competence

Primary area of expertise. Narrowly defined fields or tasks at which a company or business excels. Primary areas of specialty.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Core Competence

The primary field in which a business operates or is believed to be a leader. Core competence is the expertise in which a company is thought to excel and provide the greatest benefit to customers. This is important both in marketing and in the creation of business models. For example, a company will likely be able to charge higher fees for goods or services in its core competence.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

core competence

a key resource, process or system possessed by a firm that allows it to gain a COMPETITIVE ADVANTAGE over rivals.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
New Delhi [India], Aug 24 ( ANI ): VFS Global Group has acquired visa service provider TT Services (TTS) which enables to leverage on core competences and brands to further enhance operating performance towards our client governments and visa applicants.
NexPoint Advisors, L.P., together with its affiliates, currently manages approximately USD22 billion in net assets and believes that its core competences are squarely within the company's investment strategy.
Its core competences include electron-beam technology, sputtering, plasma-activated deposition and high-rate plasma-enhanced chemical vapour deposition (PECVD).
For 45-year-old Lichte, who was appointed Head of Audi Design in February 2014, the core competences of the brand - sportiness, lightweight design and quattro drive - are all said to have a high level of importance.
In addition, the move will enable the vendor to pay more attention to the core competences of its business, it said.
Hansen CEO, Cees de Jong explained, "The new strategy builds on our core competences and is about evolution rather than revolution.
The company says an immediate benefit of the new architecture is the seamless integration of Omron's core competences within one control platform.
The core competences centralised in Steyr, include engineering, product development, final processing of components, assembly, quality assurance, logistics, sales and marketing.
The project will assist the development of Core Competences in genetics for sickle cell and thalassaemia counsellors.
Su stressed that R&D of innovative technology and product has been one of the company's core competences.
A stronger focus on the firm's core competences is expected to create efficient structures and result in higher earnings, the analyst said.

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