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09:32 Nov 11, 2001
German to English translations [Non-PRO] Bus/Financial - Business/Commerce (general)
German term or phrase:Kernkompetenz
Quarterly report of a company producing systems for storing and reading biometric data for security passes etc.
Explanation: Core competencies are resources and capabilities that serve as a source of competitive advantage for a firm over its rivals. Often related to a firm's functional skills (e.g. the marketing function is a core competence at Philip Morris), the development, nurturing, and application of core competencies throughout a firm may be highly related to strategic competitiveness Thus the resource-based model (of superior returns) argues that core competencies are the basis for a firm's competitive advantage, its strategic competitiveness, and its ability to earn above-average returns.
The above is from "Strategic Management, Competitiveness and Globalization" by Hitt, Ireland, and Hoskisson (advanced college-level management text).