for Levi\'s. Why did it hurt them PARTICIPATION IN THIS DISCUSSION BOARD IS COMP
ID: 435310 • Letter: F
Question
for Levi's. Why did it hurt them PARTICIPATION IN THIS DISCUSSION BOARD IS COMPULSORY. Pick any one term (only one) and write a 300 word (or more) paragraph on it (including a definition in your own words) If someone has already chosen a term, you cannot choose it e terms include people, products, companies a Properties of various discussions recommend that you make a 250 word comment on any one response made by a classmate. Here, multiple responses to a single posting are acceptable 1. Innovator's Dilemma 2. Strategic Alliances 3. Volcker Rule 4. Functional Structure 5. Tim Cook 6. Product Market Stakeholders 7. Leveraged Buyout 8. The Internet of Things 9. Abilify 10. Janet Yellen 11. Bitcoin 12. Warren Buffett 13. Rivalry (from Porter's 5 forces) 14. Power of Substitutes (from Porter's 5 forces) 15. Bargaining Power of Buyers (from Porter's 5 forces) 16. Bargaining Power of Suppliers (from Porter's 5 forces) 17. Barriers to Entry 18. Disruptive Technology 19. Resource-Based View of the firnm 20. Core Competence 23Explanation / Answer
Core competence: Core competence can be defined as an organization’s key strength that enables the organization to grow its business, take hold of new opportunities and deliver added value to its customers on a sustainable basis. This strength of an organization is not easy to be replicated by other organizations in the same field. Core competence is also known as core capability or distinctive competence. An organization can have more than one core competence and the core competencies of an organization help it to sustain its competitive advantage in the long run. Business managers and top executives of a company now focus on identifying, cultivating and exploiting core competencies. The core competencies enable and make possible good growth for companies in the future. In fact many companies consider themselves to be a portfolio of competencies and not a portfolio of products and services. The advantage of having core competencies is that besides leading to sustainable competitive advantage it helps companies to adapt themselves quickly to any changes and take advantage of any available opportunity in an optimal manner. In that sense core competency of an organization is its collective learning that it has. It leads to better coordination of diverse production skills. It also helps in integrating different streams of technology. It is important for the long term success of an organization to identify and then nurture its core competencies. A core competency can be identified on the basis of the following three features of it – core competencies provides access to wide variety of markets, adds to the level of perceived customer benefits and lastly is difficult for the competition to imitate. Core competencies cannot be developed by the managers at one particular level alone. It involves different levels of people and different functions within an organization. Identification of core competencies will ensure long term growth and success. Thus an organization should focus its time and resources towards building and maintaining those skills that have led to the competencies.
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