Articles on Competency Management
Competence Based Management is comparatively a modern method to find on the means by which firms achieve excellent performance and also more important sustain that good performance.
The resource-based view (RBV) is a way of viewing the firm and in turn of approaching strategy. Resources of the firm can include all assets, capabilities, organizational processes, firm attributes, information and knowledge.
The activities and processes of the organization utilize certain assets. These assets are - Resources, Competencies and Distinctive Capabilities.
The ability to achieve new forms of competitive advantage is referred to as dynamic capabilities. Strategists consider dynamic capabilities to be the key to competitive advantage.
The core competence approach of strategy views the business in a particular way. The collective learning or knowledge of the organization forms the basis of its core competences.
Knowledge Management concentrates on the efficiency with which knowledge is used and Knowledge Creation concentrates on generating new knowledge.
Organizational learning is the means by which organizations develop, enhance, and manage knowledge and standards within their functions. In the present dynamic condition of global business environment organizations are always trying have an edge over other in gaining competitive advantage.
Knowledge management is the recognition, optimization and effective handling of intellectual assets to build value, enhance productivity, and achieve and maintain competitive advantage.
The significance of technology to an organization is that the technology can provide a competitive advantage. Technology competence can improve an organizations product portfolio.
The most important objective of business is - the vision of the organization. An organization intending to have a global business in requires a transnational strategy which requires a global vision.
Culture is essential to global organizations in different aspects especially consumer behavior and management. Lets discuss the importance of understanding culture in a global business environment.
From a business point of view, culture comprises of four different levels namely - National, Business, Industry and Organization. Lets understand these cultural levels in detail.
Authorship/Referencing - About the Author(s)
The article is Written By Prachi Juneja and Reviewed By Management Study Guide Content Team. MSG Content Team comprises experienced Faculty Member, Professionals and Subject Matter Experts. We are a ISO 2001:2015 Certified Education Provider. To Know more, click on About Us. The use of this material is free for learning and education purpose. Please reference authorship of content used, including link(s) to ManagementStudyGuide.com and the content page url.