Question

Discuss the competencies firm in strategic management

Answer 1

A strategic management competency is the competency of a business organization to achieve and sustain a competitive advantage. A 'competency' is made up of a discipline and a methodology to instill that discipline in an organization.:-) :-) -



A core competency is a concept in management theory introduced by C. K. Prahalad and Gary Hamel. It can be defined as "a harmonized combination of multiple resources and skills that distinguish a firm in the marketplace" and therefore are the foundation of companies' competitiveness.

Answer 2

Explanation:

A core competence is, for example, a specialised knowledge, technique or skill. The core capability is the management ability to develop, out of the core competences, core products and new business. ... Prahalad and Gary Hamel(1990) definition, core competencies are the "collective learning across the corporation".