‘‘Competency-based strategic management is a relatively new way of thinking about how organizations gain high performance for a significant period of time. Established as a theory in the early 1990s, competence-based strategic management theory explains how organizations can develop sustainable competitive advantage in a systematic and structural way. The theory of competence-based strategic management is an integrative strategy theory that incorporates economic, organizational and behavioural concerns in a framework that is dynamic, systemic, cognitive and holistic (Sanchez and Heene, 2004). This theory defines competence as: the ability to sustain the coordinated deployment of resources in ways that helps an organization achieve its goals. In the content we shall be describing the six managerial competencies, going into detail and also relating them to an individual’s personality. These managerial competencies are: communication, planning and administration, self-management, strategic action, global awareness and team work competency. All these managerial competencies are also an aspect of our daily lives, in discussion we will examine these competency’s strengths and weaknesses. No one individual can have all of them as their strength.
In communication competency we will talk about the types of communications, how communication is used as a competency by managers and to an individual. Teamwork competency we will be discussing the effectiveness of a team-building strategy in a business as well include examples. In planning and administration competency we show how to plan and the benefits of having a good planning and administration structure or system. Self-management simply has the inclusion of good ethical behaviour. Global awareness in tells knowing the world, in knowing the world research must be done and having a diverse open mind about other people’s culture. In order to progress in life an individual should have strategies in place