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what makes an ability a core competency,please answer in English

时间2024-09-29 22:01:25 提问来自 香港 的网友 分类AI文字 浏览106 热度0
An ability becomes a core competency when it meets several key criteria that contribute to a company's competitive advantage and long-term success. Here are some factors that define a core competency: 1. **Uniqueness**: - The ability is unique or rare within the industry, making it difficult for competitors to replicate. 2. **Value Creation**: - It provides significant value to customers, thereby increasing customer satisfaction and loyalty. 3. **Inimitability**: - Other firms find it hard to imitate this capability due to its complexity, proprietary knowledge, patent protection, or other barriers. 4. **Scalability**: - The capability can be applied across multiple products or services, helping the company to expand its business scope. 5. **Strategic Importance**: - It is an integral part of the company’s strategy and drives business growth and market position. 6. **Durability**: - The capability retains its value over time and is not just a transient advantage. 7. **Customer Recognition**: - Customers identify and value this capability, considering it critical to their choice of vendors. 8. **Efficiency**: - It enables the company to produce or provide services more efficiently than others. 9. **Innovation**: - The capability supports the company's innovation processes, enabling the continuous development of new products or improvements to existing ones. 10. **Integration**: - It allows the company to integrate different skills and technologies to create unique products and services. 11. **Cost Advantage**: - It enables the company to produce or provide services at a lower cost, thus gaining an advantage in price competition. 12. **Brand Value**: - The capability is closely associated with the company's brand image and helps to establish and maintain brand reputation. 13. **Employee Skills**: - It relies on the specialized skills and knowledge of employees, which are nurtured internally within the company. 14. **Cultural Support**: - The company culture supports and encourages the development of this capability. 15. **Market Leadership**: - The capability positions the company as a leader in specific market segments. By identifying and nurturing these core competencies, businesses can maintain a competitive edge in the marketplace.

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