Tuesday, 18 October 2016

[amdavadis4ever] Core Competence Analysis!

 


Core Competence Analysis!

By these you can get ahead of your competitiors – and stay ahead. Most of the opportunities are open to us:  We can focus our efforts so that we develop a unique level of expertise in areas that really matter our business. Because of this expertise will come to us; and by building the skills and abilities we'll win respect and the career advancement that we want.

Explaining Core Competences: The Value of Uniqueness

A core competence understands that businesses must have something unique value.  If we're able to offer something uniquely good, customers will want to choose our products and customers will be willing to pay more.

From where this uniqueness comes from, and how it can be sustained?

"Core Competences" are some of the most important sources of uniqueness: and that no-one else can copy it quickly enough to affect competition with us. We switched effort away from areas where they were weak and further focused on areas of strength, the products built up more and more of a market leads.

For example: You might have considerable strong industry knowledge and expertise to be a core competence in serving for your industry. However, if your competitors have equivalent expertise, then this is not a core competence.

Identify the factors that influence people's purchase decisions when they're buying products or services like yours - make sure that you move beyond just product or service features and include all decision-making points.

If you've identified core competences that you already have, then great! Work on them and make sure that you build them as far as sensibly possible;

If you have no core competences, then look at ones that you could develop, and work to build those; you need another way of being unique in your market that better suits your competences.

Think of the most time-consuming and costly things that you are doing either as an individual or a company and keep eye over it.

As with all brainstorming, you'll get better results if you involve other (carefully-chosen) people in this discussion.

On a personal basis and in the short term, it might be difficult to come up with truly unique core competences. However, keep this idea in mind and work to develop unique core competences.

if you're working very hard, and you're still finding it difficult to make a profit, then you need to think carefully about crafting a unique competitive position that are relevant, real and sustainable.

As ever, if your going to put more effort into some areas, you're going to have to put less effort into others. You only have a finite amount of time, and if you try, you'll do really well.

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Posted by: prakashbaroda@yahoo.com
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