Core Competencies are those cross-functional processes that are key to your
success. For an insurance company, core competencies might include:
customer acquisition including underwriting, claim processing, and customer
service. For manufacturing, core competencies might include: product
development, procurement of raw materials, manufacturing process, and
distribution. Payroll processing would not be a core competencies of
either example above, but it would be a core competency for a payroll processing
company.
Why Should I Care About My Core
Competencies?
Core competencies are the cross-functional business processes that are critical
to success of your organization. They should have performance measures for
cost, time, quality, and outcomes. These cross functional processes are top
priority for reengineering.
How
Many Core Competencies Should I have?
For a single division, there are usually 3-5 major cross functional business
processes which you want to focus your attention.
Should
You Benchmark Your Core Competencies?
Core competencies are top priority for benchmarking because they are critical to
your success.
Is There an Easy Way To Figure My
Core Competencies?
Ask your customers why they buy from you. Do they buy because you are:
product innovative (new product development)
give great service (customer service)
low cost (production process)
fast delivery (order taking, production, distribution processes)
If you don't like the answers you get when your customers tell you why they
buy from you, then you need to rethink your strategy.
Call John Antos, Tom Devane, Maurice Greaver, Steve
Peacock at ( 972-980-7407) to find out how capitalizing on your core
competencies will help you reach your goals and give you peace of mind
Find Out How We Can Help Make Your Strategic Plan More Successful
