Explain Core competency.
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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.
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Answer:
Core competencies are the defining characteristics that make a business or an individual stand out from the competition.
Explanation:
Identifying and exploiting core competencies is seen as important for a new business making its mark or an established company trying to stay competitive.
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