The 3C’s of Business– No:2– Core Competencies

From Community we move to Competency, the second “C” that businesses need to have today.
Core competencies are those capabilities that are critical to a business in achieving competitive advantage.  By focussing on core competencies, unique integrated systems, that reinforce fit amongst production, marketing, human resource and technology skills are created. This then becomes a competitive advantage that competitors can’t copy.

 

3 steps of Core Competency practice:

  1. CLARIFY:  By providing clarity on what are the core competencies of the organisation the  entire organisation knows  what areas are their key strength and how to support the same to have the competitive advantage.
  2. BUILD:  build on the competencies identified by:
  • Investing  in needed technology
  • Push in resources throughout business units  to create wide variety of products  that leads to building image, stakeholder loyalty and multiple distribution touch points.
  • Identify critical partners and forge strategic alliances to be able  to tackle key market opportunities (based on identified stakeholders).

3. CULTIVATE a core competency mindset by:

  • Not  thinking of business units as an individual business unit but as part of the entire organisational structure i.e. the actions of the business unit has a reaction on the organisation’s bottom line and image.
  • Identify and empower staff behind key competencies and ensure understanding that the competencies are a corporate resource and not of an individual business unit.
  • Empower managers by getting them to identify what are the investment requirements and to what extent  should each unit contribute to it.

 

Identifying core competencies is a critical step for organisations entering (and those in) businesses targeted to the global muslim community. Without knowing each competency organisations would attempt to use a “one size fits all” approach to serving this consumer segment globally and land themselves in a soup!

Coming up next– No:3–  Customisation.

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