BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Core competencies are resources and capabilities that serve as a source of a firm’s competitive advantage over rivals. Core competencies distinguish a company competitively and reflect its personality.

Detailed explanation-2: -The core competencies definition is a resource or capability that gives a firm competitive advantage. Core competencies are the business functions or operational activities that a company does best. A company’s core competencies are what differentiate it from the other competitors in its industry.

Detailed explanation-3: -What Are Core Competencies? Core competencies are the resources and capabilities that comprise the strategic advantages of a business. A modern management theory argues that a business must define, cultivate, and exploit its core competencies in order to succeed against the competition.

Detailed explanation-4: -Resources are the source of a firm’s capabilities. Capabilities are the source of a firm’s core competencies. A firm’s core competencies are the basis for its competitive advantage.

Detailed explanation-5: -Competitive advantage is created by using resources and capabilities to achieve either a lower cost structure or a differentiated product. A firm positions itself in its industry through its choice of low cost or differentiation. This decision is a central component of the firm’s competitive strategy.