Core Competence

Core competence refers to a company's unique strengths, skills, or resources that give it an advantage over competitors. These are the special capabilities that allow a business to deliver value, innovate, and perform exceptionally well in specific areas. For example, a company's advanced technology, talented workforce, or efficient processes can be core competences. Recognizing and nurturing these strengths helps a company differentiate itself in the marketplace, grow sustainably, and compete effectively. Essentially, core competence is what a company does best, forming the foundation for its success and competitive edge.