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Management Concepts

Management Gurus have a habit of making even simple management concepts difficult to understand with a lot of Jargon. Avinash Narula want to simplify them so that most of us understand the same, apply them and benefit from them.

Core Competence

CK Prahalad’s concept of Core Competence is an excellent concept that small and big businesses can use to grow and expand their business as well as build competitive advantage. The problem is very few understand the concept. Even a journalist working with the leading business daily in India, Economic Times, was not clear as to what Core Competence meant.

Avinash Narula has applied the concept in his small organization successfully. He not only explains the concept in a simple easy to understand manner but explains it with his own experience of applying the concept in his own organization. Avinash Narula believes that practically everybody should understand this concept as otherwise you will miss out on available business opportunities.

Avinash Narula’s experience suggests that understanding of what your core competence is can assist you in building businesses with low cost, entry barriers, low risk and short gestation period. What else can you ask for? The strategy of every company, big and small, should be to identify its core competencies and continuously explore how these core competencies can be used to develop new businesses or products. Developing absolutely new core competencies for establishing new businesses is an expensive proposition. However, our experience suggests that even developing new competencies becomes easy and cost effective when used in combination with existing core competencies.

In addition, every business has a set of core competencies which are unique to it. By using a combination of these core competencies to establish new businesses and products, you will not only be able to do so with a competitive advantage but also with a cost advantage.

So, if you are interested in developing new business and in growing your current businesses, listen to Avinash’s experience with using Core Competence and you will not regret it.