Definition: are unique competencies of a company that it can perform in a superior manner when compared to other business organizations that possess the same competencies and operate in the same business industry. Maintaining distinctive competencies is vital for a company to be able to stay competitive on the market, broaden its customer base, and produce unique high-value products or services that can’t be matched by competitors. This term is closely related to core competencies.
In a Sentence:
If you want to run your company successfully, you have to nourish your distinctive competencies. Otherwise, you risk losing your established customers while you’re in pursuit of new markets.
Every time our competitors try to match our distinctive competencies, we come up with a new innovative technological feature that helps us get ahead of the competition once more. Thankfully, we have more than enough available resources to ensure the continued evolution of our business.
Synonyms and related words: core competencies, competency, competency converge, competency modeling, core rigidities