Core Competency

What is it?

A "core competency" is a business process that is both:

Core to the organization's overall plan for achieving sustainable competitive advantage (e.g. Apple's product design process), and
Executed with an exceptional degree of competency. (Again, Apple's product design process.)

Following is a list of core business processes that most organizations operate in one manner or another. Consider whether any of these, or sub-processes within these, are core to your innovation's long-term strategic success:

Culture & Leadership
Strategy & Innovation
Talent Acquisition, Development, and Management
Research & Development
Product Development
Customer Acquisition
Customer Engagement, Loyalty, and Retention
Product / Service Delivery
Administration & Finance