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 higher the commitment, the stronger the firm's core competence.
Wal-Mart regards distribution as a core competence and NEC has cherished semiconductors while steadily overhauling GTE.
For a more complete discussion of core competencies, see Edgar and Lockwood (2008), which reviews the core competence literature, describes their components, and identifies research that remains to be done on them.
In the years since Prahalad and Hamel (1990) published their article entitled "The Core Competence of the Corporation," much work has been done to develop the core competence construct.
Prahalad and British scholar Gary Hamel first proposed the concept of "core competence of enterprise" in their classical essay The Core Competence of the Corporation published in Harvard Business Review.
This paper focuses on the role of green core competence in affecting green innovation and green image with special reference to automobile industry in India.
First, the paper presents a conceptual framework, drawn from previous research, for understanding the core competencies of a firm, revealing the internal dynamic of the core competence, the elements of the core competence, and the resulting competence breadth.
According to the report: "In addition to needing a quick ramp-up in the IT expertise necessary to oversee the early phases of procurement, NARA faces a longer-term need for a more pervasive culture change--IT skills related to preservation will need to be a core competence throughout the organization.
We talked to [core competence experts] and asked them to help us identify our core competences.

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