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The concept of "Core competency" refers to the things done by a business that lie at the heart of its ability to manufacture a product or deliver a service. They are strengths relative to other organizations that are not easily imitated and that can be leveraged across different products and markets. From a management standpoint, employees should spend as much time as possible working on tasks that contribute directly to the business's core competencies, and as little time as possible working on tasks that don't.
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