core competence

Also found in: Dictionary, Medical.

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 ?
Risk management function is a core competence of the bank to ensure maintenance of risks at appropriate levels, thereby positioning the bank for optimal growth by maximizing on revenue opportunities."
"Software is the hearbeat of modern intralogistics solutions and we now own that core competence which means we can supply an entire suite of software and provide the 24/7 support to ensure that it operates at optimum efficiency."
The new Beiersdorf logo clearly reflects these values, our core competence and our identity.
The core competence of DSS lies in maximizing the full use of milk and whey, based on its in-depth understanding of fractionation processes, water treatment and dairy production.
Green hotel core competence theory is needed by the development and maturing of green hotel as a guide, and the ultimate aim of green hotel core competence is to realize customer demands and win customer loyalty, so that market competitive advantages and also excess profit can be won by hotel.
It has no plans to move out of its core competence. "We are a company that focuses a 100 per cent on the audio business," said Ratish Pandey, general manager for India, Middle East and Africa at Bose UAE Trading.
"Another thing is that IT departments are traditionally not very good at communicating; it's not their core competence."
"We enabled Neway Technologies to focus on their core competence of enabling creative communications at Ceragon using Lync, while leveraging our global logistics, installation and advanced support services.
The concept of green marketing clearly embraces concepts like, green core competence, green innovation and green image.
Omar Tonsay said the exercise "serves as an avenue to enhance the core competence of Philippine navy in maritime security, surveillance and interdiction."
1996; Walsh & Linton 2001; Winter 2003), especially since the publication of Prahalad and Hamel's influential 1990 article, "The Core Competence of the Corporation." Since then, empirical and conceptual research on this concept has brought about many views of what these competencies are and how they can be applied to create better products and services.
These will allow clients to focus on core competence."

Full browser ?