Identify and briefly discuss the three common approaches to building core competencies and competitive capabilities.

Expert Solution

three common approaches to building core competencies and competitive capabilities are as follows -

1) Comparison with Competitors - Company should regularly compare themselves with the competitive companies to verify if they have better skills than competitors, if not, then take amendments to develop unique skills in themselves that make themselves better and unique from their competitors.

2) Understanding Customer needs - Understanding the need of the customers is most important to get over your competitors. The company must analyse the needs of the customer and the value they prefer in a company and, act and produce goods accordingly to achieve customer satisfaction.

3) Outsourcing - Company can make use of the outsourcing by giving small tasks to other companies for economical benefits and efficiency. So that company can focus on the major issues of the company to develop core competencies and competitive capabilities in the firm.

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keosha answered 2 months ago

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