Concentration on core competencies enhances competitive advantage from "summary" of Competitive Strategy by Michael E. Porter
The central idea of competitive advantage lies in the ability of a company to outperform its rivals. This is achieved not by replicating or imitating others, but by focusing on what sets the company apart - its core competencies. Core competencies are the unique strengths and capabilities that distinguish a company from its competitors. By concentrating on these core competencies, a company can create value for its customers that is difficult for rivals to replicate. When a company devotes its resources and attention to enhancing its core competencies, it becomes more adept at delivering superior products or services. This specialization allows the company to build a competitive advantage that is sustainable over time. By becoming known for its expertise in a particular area, the company can attract customers who value th...
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