how to identify core competencies
some core competencies develop naturally while other core competencies must be consciously and strategically formed over time whether a company is yet for form or has existed for a while here are ways for organizations to identify what their core competencies are or could be review the company s mission statement value statement or slogan if a company has invested time and effort into developing a brand chances are it has already put some effort into considering what it wants to be known for a company s mission statement value statement or other branded content may identify what the company wants to be or how it wants to seen by customers compare the company to its competitors a core competency is a unique element that can not be easily replicated by other companies therefore a company can identify its core competencies by thinking through how the company is different from other businesses this includes differences in products processes market areas delivery customs pricing or employee base interview internal staff or major customers different key stakeholders of a company may have insights into its strengths or weaknesses of a company in some cases the day to day staff may have a better sense of what the company excels in in addition primary customers that have the most real world experience with the company s products or services may yield feedback as well brainstorm what benefits the company provides customers core competencies often relate back to the product or service the company provides for example is the product the lowest cost most user friendly or highest quality if customers gain a benefit from the company s goods i e they pay the lowest prices that can often be leveraged into a core competency understand the processes required to make goods in addition to considering the specific products a company should review what it takes to make the products this includes the labor materials knowledge processes equipment or research that must be refined in advance identify unique aspects of the company if all else fails it may be simplest to just consider what about the company is unique this may relate to the company s history certain benefits it can give its employees the industry it resides in or what it aims to achieve in the world consider hiring an external consultant to evaluate your company s framework to determine what your core competencies are or could be 