CORE COMPETENCE: A COMPETITIVE BASE FOR ORGANIZATIONAL SUCCESS

Abstract

The main object of this study is to investigate the impact of core competence of a firm on organization- al success. Core competence is a firm-specific organi- zational signature that leads to market dominance. It is a signature because represents a firm-specific way of doing business, and emerges from organizational knowledge, expertise, experience, skills, systems, tech- nology, capabilities and resources along with value chain that all differentiate firm from their competitors. Those assets are cornerstones for organizational operations that firm do better than rivals. They also help firm to efficiently produce winning products to increase market share. Core competence achieves this target by leveraging resources and capabilities. It improves the quality of in-house operations with rational resource allocation and usage of distinctive knowledge, expertise, and skills. Therefore, firm beats competition, and dismisses organizational weakness- es, and external threats, and takes advantage of mar- ket opportunities. A large number of firms do search for an effective way of managing core competence to respond rapid changes in their environments. Staying in the business depends more on exploiting core com- petencies in order to reach future priorities and vision of the firm. Thus, a firm's strategies should be based on core competencies to make company successful in the market and to obtain customer value, differentia tion, and penetration in to new market