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The Importance of Core Competencies Within a Business

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Can a company change its core competency? What would be the impact?

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Solution Summary

This solution explores the importance of core competencies to an organization, providing examples of organization's that leverage core competencies, and explores the ability for an organization to change a core competency.

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A core competency is an organization's strengths relative to others in the industry. It is something that provides added value to a product or service. A core competency is important to the overall success of a company. It is the strength in which an organization can build its business. In order for me to explain the merits of core competency, I would like to use some examples.

One of Honda's core competencies is their ability to build motors. When we think of Honda, we mainly think of cars and motorcycles but the name of the company is "The Honda Motor Company". Its success in the automotive industry can be attributed to its competency, which its ...

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