From the course: Strategic Planning Foundations
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Core competencies: Starbucks example
From the course: Strategic Planning Foundations
Core competencies: Starbucks example
- One large aspect of strategic planning is deciding where you will or will not compete. A way I encourage organizations to think about that is to look at their core competencies. A core competency is something your organization is great at. I know your organization is probably good at a lot of things, but what are the two things you would hold up and say, we're better than anyone else at these two competencies. Allow me to offer a few examples. Core competencies could be things like the quality of your product, your ability to innovate, the efficiency of your supply chain, the strength of your brands, your technology infrastructure. There are a lot of things that you could be good at, so take a step back and say, how do we compete in the marketplace? Allow me to offer a couple of examples. Starbucks, I would argue that their two core competencies are the quality of their product and their service. Proctor and Gamble.…
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