It is important for you and your company to define your core competencies, as these are what you can compete on. Your core competencies are then used to develop your company's strategy. Core competencies can be anything from product, service, brand, etc. They should be difficult for competitors to imitate and perceived as advantages by your customers. Core competencies are also called roots of competition and competitive advantages. They show how you combine your company's resources, competencies and competitive advantages. Together, core competencies form the basis of your company's value creation.
