HOW TO LEVERAGE COMPETENCE FOR BUSINESS GROWTH
The word competence is a term usually not taking seriously in companies or organizations, people believe it to be another term that does not make so much difference to a companies health or growth. Core competence has been neglected in many businesses and this has made many businesses not able to tap into there full potentials.
Core competence are been said to be one of the important aspects that contribute to business growth. Core competence can be identified as an asset to a company, which can be in the form of equipment, skill, or expertise. It is what makes a company stands out from there competitors.
Majorly, core competence can be what a company is best at, that is, what there followers and customers to the best for, what they get awards for being exceptional at something.
To make good use of your core competence, identifying them would be the first step of action to unfailing your companies potential.
After identifying your core competence which could be either: What your company is best at, what benefits do your customers love about your services, identified differences from other companies which can be an advantage to your business.
Identifying examples of other brands who have leveraged their core competence as an advantage to the growth, examples of those brands are apple that continues to amaze their customers with new technology breakthrough on each product they release either on there mac or iPhone. Identifying them will open up possibilities of the results on taking core competence as an asset that will drive organizational growth.
The next stage of action is to develop your competence and use them effectively to grow your business, effectively leveraging your core competence can help in increasing revenue and can also affect your operations positively.