BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gary Hamel and Peter Drucker
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C. K. Prahalad and Gary Hamel
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C. K. Prahalad and Micheal Porter
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Peter Drucker and Micheal Porter
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Detailed explanation-1: -A core competency is a concept in management theory introduced by C. K. Prahalad and Gary Hamel. It can be defined as “a harmonized combination of multiple resources and skills that distinguish a firm in the marketplace” and therefore are the foundation of companies’ competitiveness.
Detailed explanation-2: -Evolution of the idea of core competency It was first proposed in 1990 in the HBR article “The Core Competence of the Corporation” by C.K. Prahalad and Gary Hamel.
Detailed explanation-3: -The Core Competence Model focuses on a combination of specific, collaborative, integrated and applied knowledge, skills and attitude. According to Hamel and Prahalad the strategic objectives should not focus on fighting off the competition, but on creating a new competitive space.