To succeed, companies must consider their "core competencies," this article from Harvard Business Review states. Authors C.K. Prahalad of the University of Michigan and Gary Hamel of the London Business School explain that if a corporation starts by building competencies in various areas, its core products emerge from these competencies, thereby making it much more flexible in readjusting its focus to respond to the changing market. They explain how to build these competencies and to develop strategy with the competencies at its base. This article originally appeared in print in the May-June 1990 Harvard Business Review and is now available in audio format exclusively through Audible.
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