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competencies
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.Core competencies fulfill three criteria:
Provides potential access to a wide variety of markets.
Should make a significant contribution to the perceived customer benefits of the end product.
Difficult to imitate by competitors.For example, a company's core competencies may include precision mechanics, fine optics, and micro-electronics. These help it build cameras, but may also be useful in making other products that require these competencies.
Hi this question is criteria for Leadership and Management Competencies.
Can you illustrate the difference between leadership and management, in simple and direct answer. Thank you