Core competencies are created by the superior resources put to use in way that no other firm can replicate. Core competencies are those things that are fundamental to a firms success. Core competencies are rare, not many firms can do what you do in this area. Core competencies are difficult if not impossible for another company to copy, usually because of the firms capability and intangible resources, not because of physical resources. Core competencies are valuable to customers, that is, the things that your company does better than anyone else, someone else must be willing to pay for else you are simply good at something but it does not create long-term success of the company. If you attempt to develop 10 core competencies, how are you going to develop and maintain all of them? Successful firms tend to focus on the 2 or 3 things they clearly do better than others.
