▁materials ▁and ▁components ▁supp liers , ▁distrib utors , ▁consult ants , ▁financial ▁institutions ▁and ▁customers . ▁ ▁Third , ▁compet ence ▁must ▁include ▁an ▁ability ▁to ▁manage ▁the ▁cogn itive ▁processes ▁of ▁an ▁organization . ▁The ▁requirement ▁of ▁deployment ▁of ▁resources ▁– ▁direct ing ▁organiz ational ▁resources ▁to ▁specific ▁value - cre ating ▁activities ▁– ▁addresses ▁this ▁dimension ▁of ▁compet ence . ▁Organ ization ' s ▁man agers ▁are ▁ultimately ▁responsible ▁for ▁dec iding ▁the ▁ways ▁in ▁which ▁an ▁organization ▁will ▁try ▁to ▁create ▁value ▁in ▁its ▁target ed ▁product ▁mark ets . ▁Thus , ▁ach ieving ▁organiz ational ▁compet ence ▁pos es ▁a ▁two fold ▁cogn itive ▁challenge ▁to ▁man agers . ▁Man agers ▁must ▁be ▁able ▁to ▁as certain ▁and ▁ass ure ▁that ▁an ▁organization ' s ▁operations ▁meet ▁at ▁least ▁the ▁minimum ▁efficiency ▁requirements ▁needed ▁to ▁carry ▁out ▁the ▁strateg ies ▁of ▁the ▁organization , ▁but ▁they ▁must ▁also ▁be ▁able ▁to ▁define ▁and ▁select ▁strateg ies ▁that ▁have ▁the ▁potential ▁to ▁create ▁value ▁in ▁target ed ▁mark ets ▁when ▁they ▁are ▁carried ▁out ▁efficiently . ▁In ▁other ▁words , ▁man agers ▁are ▁responsible ▁for ▁both ▁efficient ▁and ▁effective ▁use ▁of ▁an ▁organization ' s ▁resources . ▁ ▁Four th , ▁compet ence ▁must ▁include ▁the ▁ability ▁to ▁manage ▁the ▁hol istic ▁nature ▁of ▁an ▁organization ▁as ▁an ▁open ▁system . ▁The ▁requirement ▁of ▁goal ▁achiev ement ▁addresses ▁the ▁multip licity ▁of ▁individual ▁and ▁institution al ▁interests ▁that ▁inter ming le ▁in ▁and ▁are ▁served ▁through ▁any ▁organization .