core skill

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core skill



the particular, often unique, abilities possessed by a firm in supplying a product which provides the basis for the firm's on-going COMPETITIVE ADVANTAGES over rival suppliers. At an individual level, core competencies are the key skills and knowledge required in a job (see RECRUITMENT AND SELECTION). Such skills may reside, for example, in the firm's research and development or marketing capabilities. Essentially they embody the expertise of the firm's incumbent staff, accumulated know-how and intellectual property rights (PATENTS).

From a strategic perspective, the possession of core skills suggests that firms should concentrate on what they do best (that is, ‘stick to the knitting’) rather than be tempted to diversify (see DIVERSIFICATION) into areas they know little about or dissipate their energies by trying to do too many things. See CORE BUSINESS, RESOURCE BASED THEORY OF THE FIRM, DISTINCTIVE CAPABILITIES, VALUE CHAIN ANALYSIS.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in periodicals archive ?
The core skills theme is rounded off by the popular SEC542: Web App Penetration Testing and Ethical Hacking and the FOR408: Computer Forensic Investigations -- Windows In-Depth courses.
He also believes the fundamentals and core skills of cricket are being botched up by Twenty20 cricketers and are surrendering psychologically to the pressure that Twenty20 cricket exerts on them.
In order to better equip physicians with the skills necessary to deal with these new pressures, four main areas of expertise are required as core skills for today's medical professionals:
They want to retain a core skill base on the Wallsend yard."
e lessons are being developed to align with the Citizenship and PSHE curricula as well as supporting core skills and development.
The traits, he said were cultivated throughout the programme in various activities divided into core skills training and aftercare.
Kelvin, who also oversees the group's business in developing regions, said the initiative would use Canon know-how, history and technology to develop core skills of students and professional printers.
The basic idea is that lawyers practicing law in the US or in other countries, need a set of core skills to enable them to represent the interests of their clients adequately.
Ecclesiastical's Faith Kitchen said: "The disappearance of certain core skills is a worrying trend and it's vitally important they're not lost forever.