Definition of Competencies for Innovation

✅  Related keywords: core competencies, threshold competencies, capabilities

📖  What are Competencies for Innovation?

The ways in which a company utilizes its resources. An example of an innovation competency is Apple designing its own operating system, hardware, software, and services. A threshold competency is a baseline competency a company needs to compete in its industry, such as the ability to transform a technology patent into a product. A core competency is a defining process by which a company distinguishes itself from the competition. An example of a core competency is the ability of NASA to integrate open innovation into its operational model.