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Core Competences & SWOT Analysis

Core Competences & SWOT Analysis. Sim RT. What is Core Competence?. “…are the essence of what makes an organization unique in its ability to provide value to customers.”. Source: Leonard-Barton , Bowen, Clark, Holloway & Wheelwright.

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Core Competences & SWOT Analysis

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  1. Core Competences & SWOT Analysis Sim RT

  2. What is Core Competence? “…are the essence of what makes an organization unique in its ability to provide value to customers.” Source: Leonard-Barton, Bowen, Clark, Holloway & Wheelwright “Core competencies is a skill/asset/technology that underpins the growth of the business from its current and future competitors…” source: UKLAI working Party; WMG analysis

  3. Or we can ask, “what is you great at, but not just good at”?

  4. Three characteristics • A source of competitive advantage in that it makes a significant contribution to perceived customer benefits; • It has applications in a wide variety of markets; • It is difficult for competitors to imitate.(Unique) Source: Philip Kotler, ac tl.; Marketing management; 2009

  5. Core Competence must be: Valuable Capabilities that either help a firm to exploit opportunities to create value for customers or to neutralize threats in the environment Costly to Imitate Capabilities that other firms cannot develop easily, usually due to unique historical conditions, causal ambiguity or social complexity Non-substitutable Capabilities that do not have strategic equivalents, such as firm-specific knowledge or trust-based relationships Important to know: Correctly identifying and protecting core competence is key to survival.

  6. The attributes of a core competence include: • attitudes of the staff • skills within the company • value delivered • market requirements met • best in class • product or service differentiator • difficult to imitate

  7. Core Competence=Strengths

  8. SWOT Analysis • Strength • Weakness • Opportunity • Threat

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  10. The purpose of SWOT Analysis. • It is an easy-to-use tool for developing an overview of a company’s strategic situation • It forms a basis for matching your company’s strategy to its situation

  11. Strength • A STRENGTH is something a company is good at doing or a characteristic that gives it an important capability. • Possible Strengths: • Name recognition • Proprietary technology • Cost advantages • Skilled employees • Loyal Customers

  12. Weakness • A WEAKNESS is something a company lacks or does poorly (in comparison to others) or a condition that places it at a disadvantage • Possible Weaknesses: • Poor market image • Obsolete facilities • Internal operating problems • Poor marketing skills

  13. Opportunity • Opportunity is any favorable situation in the organization's environment. Possible opportunity: • Arrivals of new technologies. • Loosening of regulation. • Removal of international trade barriers.

  14. Threat • Threat is any unfavorable situation in the organization's environment that is potentially damaging to its strategy. The threat may be a barrier, a constraint, or anything external that might cause problems, damage or injury. • Possible Threat: • Shift in consumer tastes away from the firm’s product • Emergence of substitute product • New regulations • Increased trade barriers.

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