Lesson 2 Introduction

Part 2 Core Competency

in Entrepreneurship
NOTES
Core competencies – are the collective learning of the organization, especially how
to co-ordinate the diverse production skill and integrate multiple stream of
technologies.
• Unlike physical assets, which do deteriorate over time, competencies are
enhances as applied and share across the organization.
• Core competencies of a business are also guiding parameters for new markets
and diversification.
Strategic intent – the process of developing core competencies start with the
strategic intent of being a leader in the market by leveraging the resources.
• Strategic intent provides a basis for stretching the goals of the organization with
barrier breaking initiatives
Strategic architecture – is a roadmap which predicts what core competencies to
build and which related technologies are needed.
Leveraging resources and thereafter the development of core competencies
requires investment in three different things:
a) Technology
b) Governance process
c) Collective learning
Core capabilities – are crucial for survival
Core competency – does not confer any specific differential advantage over other
competitors in the industry
• Core competencies are also an indicator that resources are being used in the
right places in the right amount.
Intel – their core competence lies in developing an array of microprocessors in very
short time.
Competency – the ability to do something successfully or efficiently
Strategic architecture – a roadmap which predicts what core competencies to build
and which related technologies are needed.
Strategic intent – points out to identifying various opportunity gaps.