Wiktionary
n. (context management English) An important special capability or expertise; especially that of a business affording it sustainable competitive advantage.
Wikipedia
A core competency is a concept in management theory introduced by, C. K. Prahalad and Gary Hamel. It can be defined as "a harmonized combination of multiple resources and skills that distinguish a firm in the marketplace".
Core competencies fulfill three criteria:
- Provides potential access to a wide variety of markets.
- Should make a significant contribution to the perceived customer benefits of the end product.
- Difficult to imitate by competitors.
For example, a company's core competencies may include precision mechanics, fine optics, and micro-electronics. These help it build cameras, but may also be useful in making other products that require these competencies.
Usage examples of "core competency".
The question becomes how much overlap or redundancy between land, sea, air, and space forces can the nation afford, and what is the opportunity cost to the core competency of the land, sea, air, or space force that builds and/or maintains the duplicative force structure.