Strategy 101: What is your core competency?
Monday, October 13th, 2008
Apple has an announcement scheduled for this Tuesday. There is much speculation of innovations within the MacBook line, including potentially a low cost product line. As a Mac user, I am eagerly awaiting what is next. Whatever their announcement is, one can be sure it will continue to build on Apple’s core competencies.
Core competency originates from C. K. Prahalad and Gary Hamel in their 1990 paper “The Core Competence of the Corporation.” Prahalad and Hamel highlight core competency as a source of uniqueness that a company can do uniquely well, offering a competitive advantage as competitors can’t quickly copy. A core competency can take various forms: know how, process, manufacturing, relationship, development methodology, culture, talent management, branding, marketing, distribution, research & development, …
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