Core competency is the ability of the company to gain a competitive advantage in the market by developing core capabilities. Core competency is not achieved in a single day and neither can be easily replicated by the competitors. One organization may have more than one competency.
Core competencies of the company help it to grow, innovate, and capture new opportunities and enjoy first-mover advantages. For long-run success, companies must identify their core competencies and help their employees to build those competencies by investing in their skills and resources.
