✅ Related keywords: core competencies, threshold competencies, capabilities
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.
More innovation terms explained.
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