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.

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.

core competence

a key resource, process or system possessed by a firm that allows it to gain a COMPETITIVE ADVANTAGE over rivals.
References in periodicals archive ?
The core competency model was developed based on input from experts in the corrections field as well as a comparison to other fields in profit and nonprofit organizations.
Airmen, of course, need to be experts in applying air and space power, but this core competency requires that we understand the range of warfighting--air, land, sea, and space--so we can combine our skills under the joint commander.
Do the results of the core competency test show this?
After all, influencing key people is a core competency you want to possess.
Core competency can help with another gravity battle--keeping your running program injury free.
Extendibility: An apparent core competency might not, in fact, prove to be one from the organization's standpoint if there is no way of imagining it leading to an array of new products or services.
The core competency concept helps to explain why brokerage firms have sought to provide consulting services.
A core competency should not be confused with a firm's distinctive competence, a descriptive phrase coined several decades ago that specifies what a firm does unusually well.
In order to cut costs, manufacturers are re-focusing on their core competency production.
Contract production of bio-reagents through our Strategic BioSolutions(TM) brand is a core competency of Strategic Diagnostics Inc.
The Bank's outsourcing solution enables us to focus on our core competency while effectively managing costs.
Each Title benefits from JI's "DCC" core competency -- Discovering top-quartile benchmarks and high value-adding best practices; Changing performance expectations, and Creating value among the world's 110 developing economies, including the BRICs.

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