Competencies– The Heart of Business Strategy

From Community we move to Competency, the second “C” that businesses need to have.
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.

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

Here’s 3 quick steps for identifying and understanding the businesses core competencies:

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.

These 3 steps are a start in the right direction if one is to develop a strong relationship within the global muslim community. It provides the starting base from where execution of the business strategy can be developed.