As stated word-to-word by Hamel and Prahalad and quoted by Franke (2002) in his book, core competence can be defined as:
“Core Competence is the collective learning in the organization, especially how to coordinate diverse production skills and integrate multiple streams of technologies.”(1000ventures.com, 2008) It is because of the core competence of business which helps the company in subtle operation of the business and contributes to the unique identification of the entire enterprise. Core competence of business should never be mistakenly mixed or misunderstood with the simple and ordinary organizational behavior and skills set because of the fact that core competence has been simple for the company as it is of highly complexity in respects of nature. It is the mixture of corresponding and balancing skills set of knowledge present in a team or a group which makes it easy at the end to present a more superior product over other products of the competitors present in the marketplace.
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