Resources and capabilities that serve as a source of competitive advantage for a firm over its rivals are called core competencies.
In the field of Business management, core competencies can be described as those particular skills and resources that are of strategic advantage to a firm over its rivals.
Such skills and resources are used in order to create value for customers. These special skills and resources urge a customer to be attracted to your product rather than the other rival products.
The core competencies of a company should be unique enough so that rival companies cannot copy them. Also, it should be significant enough to benefit customers.
Examples of ways through which core competency can be built include strategic and proper marketing, excellent dealing skills with customers, and making high-quality products. etc.
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