Core Competencies Defined

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