activities and processes such as to achieve competitive advantage in ways that others cannot imitate or obtain”. Developed by Hamel and Prahalad in 1990‚ simply stated‚ (a) it provides customers with major benefits‚ (b) it is difficult to imitate and (c) it can be leveraged in many products and markets. Differentiated from regular competencies and capabilities‚ Hamel and Prahalad (1990) highlighted the underlying role of a core competence. They likened the diversified corporation to a tree‚ with the
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References: Beer M‚ Sector B‚ Lawrence‚ P‚ Quinn M.D.‚ Walton R‚ (1984)‚ “Managing Human Assets”‚ New York: The free press Hamel‚ G.‚ & C Hill‚ C‚ Jones‚ G. (2001)‚ “Strategic Management: An integrated Approach” (5th ed)‚ Boston‚ M.A.: Houghton Mifflin. Mintzberg‚ H. (1979). The Structuring of Organizations: A Synthesis of Research. Prentice Hall‚ Englewood. Sloan‚A.(1963)
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The term “Core competence” was first put forward in the 1990. In the book The Core Competence of the Corporation‚collaborated on by famous management experts C.K. Prahalad and Gary Hamel. It points out‚ “Core competence is optimized knowledge and skills inside some organization‚ especially regarding how to adjust diverse manufacturing skills and optimize different technologies and skills.” In their view‚ core competence first of all should provide the enterprises with the potential to enter different
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pp48-59 Peteraf‚ M.A‚ "The Cornerstones of Competitive Advantage: A Resource Based View"‚ Strategic Management Journal‚ Volume 14 (1993) pp179-191 Porter‚ M.E.‚ "What is Strategy?"‚ Harvard Business Review‚ November-December (1996) pp61-78 Prahalad‚ C.K.‚ and Hamel‚ G.‚ "The Core Competencies of the Corporation"‚ Harvard Business Review"‚ May-June (1990) pp79-91 Teece‚ D.J.‚ Pisano‚ G.‚ and Shuen‚ A.‚ "Dynamic Capabilities and Strategic Management"‚ Strategic Management Journal‚ Volume 18 (1997) pp509-533
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and process issues that may have resulted from Welch’s unrelenting push for speed and short-term results. Core competencies provide access to new markets‚ add value to the company’s products and are difficult to duplicate by competitors (Prahalad and Hamel 1990) Welch clearly recognised that GE’s best asset was its human capital. An important strategic step of empowering line management and employees was the delegation of strategic
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competences in arranging: Licences to operate the required capacity to the specified destinations‚ ground handling activities to ensure customers are checked on to their flights and that they are transported to and from their accommodation. Hamel and Prahalad (1994) has also expresses a similar view which states that competence is a bundle of skills ‚techniques and a sum of learning across individual skill sets and units. Competencies of British Airways British Airways have some basic competencies;
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This is a case analysis of Wal-Mart‚ the largest retailer in Mexico and North America. Wal-Mart controls a large portion of the markets in which its products are sold‚ enabling Wal-Mart to maintain its core value of delivering low prices through eliminating the bargaining power of suppliers and buyers‚ developing innovative technology to maintain competitive advantage‚ and thus creating incredibly high barriers for new entrants. Wal-Mart’s core value - delivering low prices - has proved successful
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TABLE OF CONTENTS Industry Analysis 3 Competitive pressures in the industry 3 Industry Segmentation 4 Supply Chain 4 Potential growth 4 PROFIT POTENTIAL and Market Power 5 INDUSTRY overview 5 Competitor Analysis vs Nucors CompetItiveness 5 Company Position Analysis 9 Understanding Nucor VISION AND VALUES 9 Understanding Nucor Core Competencies 10 UNDERSTANDING NUCOR ’S COMPETITIVE ADVANTAGE based on resources 11 cURRENT ISSUES FACING THE COMPANY 13 pROPOSSED SOLUTIONS TO STAY ON TOP
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corporations (MNCs) and their overseas affiliates have become increasingly important players in the global economy‚ interest in and research of the strategies and management practices of these firms have also grown (e.g.‚ Hamel & Prahalad‚ 1985; Ohmae‚ 1990; Porter. 1986; Prahalad & Doz. 1987; Rosenzweig & Singh. 1991). Although researchers have explored numerous issues internal and external to the MNC‚ there is a growing consensus that a key differentiator between the corporate winners and losers
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Ginter‚ M. (1985). Planners’ Perceptions of the Strategic Management Process Journal of Management Studies‚ Vol Hammer‚ M. and Champy‚ J. (1993). Re-engineering the Corporation: A Manifesto for a Business Revolution‚ Harper‚ New York‚ NY. Hamel‚ G. and Prahalad‚ K. (1995)‚ “Thinking differently”‚ Business Quarterly‚ Vol. 59 No. 4‚ pp Hart‚ L. (1965). The Memoirs of Captain Hill. Volume 1 and II. Gassell‚ London‚ 1965. Hill‚ L. and Jones‚ R. (1998)‚ Strategic Management Theory: An Integrated Approach
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