Core Competencies free essay sample

A business or product which generates a sturdy, dependable flow of cash. Dog- a product with low market share in a slow growing market and thus neither generates more consumes large amounts of cash. Star- products that are in high growth markets with a relatively high share of that market. They tend to generate high amounts of income. Question Mark- growing rapidly and thus consumes large amounts of cash but because they have low markets shares they do not generate much cash 2. What are core competences? Core competences are critical capabilities to a business achieving competitive advantage. The starting point for analysing core competences is recognising that competition between businesses is as much a race for competence mastery as it is for market position and market power. Senior management cannot focus on all activities of a business and the competencies required to undertake them. So the goal is for management to focus attention on competencies that really affect competitive advantage. We will write a custom essay sample on Core Competencies or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 4 Potential sources of core competences * Distribution * Marketing * Management * Manufacturing 4 criteria used to evaluate core competences * Valuable * Rare * Costly to imitate * Non substitutable 3. What should an audit of resources include? The resources available to a business whether it be owned or obtained through partnerships, joint ventures or simply suppliers arrangement with other businesses. The assessment of the strength and weakness of an organisation in conjunction with an assessment of opportunities and threats. It should have the key success factors for the markets and industries in question and the comparable strengths and weaknesses of competitors for the same customers. 4. What are the strategic options for competing in a Mature Industry? Prune marginal products and models * Emphasize innovation in the value chain Strong focus on cost reduction * Increase sales to present customers * Purchase rivals at bargain prices * Expand internationally * Build new, more flexible competitive capabilities 5. Define the Value System The Value System is the set of interdependent situations within a business which both directly or indirectly adds value to the customer and ultimately generates a net cash inflow. This also provides a key link between competitive strategy and shareholder value. Even though the value system bears some resemblance to Porter’s value chain, the latter is perhaps less flexible and less easily tailored to the variety of the modern business. Core Competencies free essay sample The three major Information System (IS) professional core competencies are technical, business and systems. These three competencies are important to any organization. Technical knowledge and skills includes proficiency in hardware, software, networking and security. Most of the technical work is outsourced to different providers to cut down on overhead. The technical personnel have to make sure that the operating systems, applications software are up to date and install new updates.They should ensure that all internet activities are secure for every personnel that operate a computer. The IS professional need to know the basic technical areas of how they work and should be applied. Business knowledge and skills in IS set them apart from people who only have technical knowledge and skill, business knowledge might determine if a person keep their job or not. Business competencies offer structure to administer organizational way of life, leadership growth and impel organizational achievements.If a person has superb leadership skill and know how to interact with people, there is no limit to what that organizational can accomplish. We will write a custom essay sample on Core Competencies or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page If IS personnel can achieve excellent communication skills, verbal, and written, it can lead to promotions and upper executive position. System knowledge and skill involves systems integration, development methodologies, critical thinking and problem solving. Systems integration is the process of linking together different computing systems and software applications physically or functionally. System integration ensures that the computers are compatibility. The development methodology involves system analysis and design, and systems development life cycle which determines how long a certain system will be viable before it needs to be replaced. The information system professional has to make sure they are ahead of their competitors. They should be innovative and created. System knowledge and skills personnel should look at every idea from a different perspective.They should see the negative and the positive point of view of every situation. This leads to problem solving, identify the problem and come up with a solution for it. A good information system personnel that posses all three of the core competencies; the technical aspects of an organization, from a business point of view and know how to develop and design software. Problem solving will have a large part in increasing the probability of success in IS. No, I don’t think you need all three to be a professional, but you do need all three to be arketable. If someone has all three, they could become the chief information officer for an organization. The competencies that I posses are managing people, projects, excellent communication skills and problem solving. I was a supervisor on my last job. Which entailed, scheduling people for work, counseling on job performances and solve any problems that arose with the employees or consumers. Also, I am over the Hospitality Committee at my local church, and the on district level, so organizing and planning is one my strong competencies.My weaknesses are I am not a person who likes to delegate or pass on work that I can do. Many would think that this is being power hungry or afraid someone can do things better than me but this is not the case. I feel that I can do things better because I know the way that I want them done. Someone has said in the past â€Å"if you want something done right then do it yourself†, and I have lived by that rule for a very long time. There are some cases in which I do delegate but not very many. Is this a problem many would say yes and I can see why. Another weakness I have is not thinking outside of the box, I like to keep things the way they are and as someone said in the past again â€Å"if it aint broke don’t fix it. † I am a traditional person with traditional thinking and I know to become successful I must learn to open up my imagination and began to trust the personnel I have around me to accomplish things that I need to let go of and release them to do things outside the box. This is becoming a little easier for me with the help of the internet and other resources and other people around me influencing me to go in that direction.My goals to acquire the necessary skill sets that I do not possess at this time is to continue to increase my education level by finishing my Bachelors Degree in accounting and continuing on to my masters. I will also try to volunteer at other organizations to broaden my way of thinking and I might even try for an internship overseas to work with different cultures. I can also take h uman resource leadership courses to assist me in dealing with delegating work to others.