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Competence is the ability to perform at a competitive level in a particular industry, market, profession, process, practice or activity.Core competency is an ability that is important to your competitive advantage as a firm or professional. The term is used to differentiate between things that you're good at and things that you need to be good at in order to thrive in a particular industry or profession.Competence vs Core CompetencyCompetence is any area in which a firm or individual performs at a competitive level. A firm may have a competence in logistics or a professional may have a competence at coding.A core competency is any area that is essential to success in an industry or profession. For a software developer, public speaking is considered a competence and coding is considered a core competency. A software developer may thrive in their profession even if they are terrible at public speaking. It is unlikely they will thrive as a software developer if they are terrible at coding.The idea of core-competency is used by businesses to form strategy. For example, a non-core capability may be outsourced but it is generally considered a bad idea to outsource a core-competency. In other words, a core-competency is the fundamental value that you add to the market. A delivery service that is faster, more reliable, cheaper and friendlier than all competitors will thrive even if they have weaknesses in other non-core areas.|
| Competence | Core Competency | Definition | Something you're good at | Something you need to be good at to thrive in an industry or profession. |
Competitive Advantage
This is the complete list of articles we have written about competitive advantage.
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A few sources of competitive advantage for businesses.
The difference between competitive parity and competitive advantage.
A few sources of competitive advantage for businesses.
The difference between competitive advantage and distinctive capability.
Why being first to a market has advantages.
A definition of competitive benchmarking with examples.
The common types of digital maturity.
The common types of business scale.
The common types of business competition.
The common types of marketability.
A definition of competitive map with examples.
An extensive list of business strategies.
A reasonably comprehensive guide to strategy.
The difference between a baseline and a benchmark.
A definition of strategy vs tactics with two examples.
A list of macro environment components.
An overview of a common business strategy.
A definition of restructuring with examples.
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