Core competencies

Entrepreneurs are goal-driven

Goal-oriented entrepreneurs achieve the maximum results of their efforts because they work towards clear and measurable targets. Working towards clearly defined goals is important. They think of what they want and how to get it.

An entrepreneur as a marketing man

Marketing is an important process for entrepreneurs. The

process of acquiring and retaining customers is the focus of

marketing. Entrepreneurs must design the product, set its

price, distribute the product to the market, and promote the

product. Entrepreneurs must differentiate their company's

product or service so that its uniqueness and value are clear

to the customer.

Entrepreneurs start small to big

Most successful entrepreneurs start small and think big. Many entrepreneurs start a small scale business but with their managerial talents and persistence, they will be able to make the company grow.

Core competencies

Features or characteristics that enable a business to differentiate itself from its competitors. This covers the manpower capabilities, acquired assets, capital, and registered patents.

Core competence

Something unique that a business has or can do strategically well

C.K Prahalad and Gary Hamel

The concept of core competencies was developed by_____.

General conditions a business activity must meet

1. It must provide superior value or benefits to the customer

2. It should be difficult for a competitor to replicate

3. It should be rare