Identifying and leveraging core competencies is crucial for several reasons:
Competitive Advantage: They allow a company to stand out in the market by offering distinctive products or services. Customer Value: They enable firms to deliver unique value propositions that meet customer needs better than competitors. Resource Allocation: Focus on core competencies helps in efficient allocation of resources, ensuring that investments are directed towards areas with the highest impact. Sustainable Growth: By building on core strengths, companies can achieve sustainable growth and profitability.