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Business for engineers part 5: Core competencies


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A quick introduction to basic business concepts aimed at engineers and all who wish a simple and quick explanation. Part 5 in the series is covering the concept of core competencies.

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Business for engineers part 5: Core competencies

  2. 2. SO WHAT IS A CORE COMPETENCE? “A specific factor that a business sees as being central to the way the company or its employees work” 1. It is not easy for competitors to imitate. 2. It can be reused widely for many products and markets. 3. It must contribute to the end consumer's experienced benefits.
  3. 3. IN SHORT.. = what we do BEST and what we cannot outsource • Amazon and its platform • Netflix and content delivery • Apple and product design process • Google and search+advertising
  4. 4. WHY IS IT USEFUL? • Core competencies help us focus on doing only the stuff that we do best and don’t waste time with the rest • “Why are these non-essential things being allowed to consume valuable resources?”
  5. 5. YOUR CORE COMPETENCIES • Reminder: underlying skill, ability, knowledge, experience, technology or process ! • So what are the core competencies of your company? • How do they relate to your products and services?
  6. 6. CORE COMPETENCE VS. CORE BUSINESS Core business today CC1 CC2 CC3 CC4 Core business today CC1 CC2 CC3 CC4 ! • They describe who you ARE, not what you DO • You can add new core competencies, too • Netflix: from content delivery to content creation • Amazon: from utilizing to selling the platform Core business tomorrow
  7. 7. NEW CORE COMPETENCIES What core competencies might be useful for your company?
  8. 8. BUSINESS FOR ENGINEERS 1: Customers and sales 4: Value proposition 2: Product conception 5: Core competencies 3: Minimum Viable Product 6: Company values Jan Isakovic @iYan