What are core competencies? How do firms that adopt an international strategy utilize their core competencies? How do firms that adopt a transnational strategy utilize their core competencies
Core competencies is a concept that refers to a “harmonized combination of multiple resources and skills that distinguish a firm in the marketplace” (Prahalad & Hamel, 2006). Core competencies can be utilized by companies with international strategy by highlighting these core competencies and letting the customers know how they are different and better than their competitors. In case of a transnational strategy, the core competences can help in improving the operations of all the international setups by introducing these core competencies at all of them.