Questions and Answers

Is it possible not to have a Strategic Competency?

It is possible for a company not to have a Strategic Competency while still enjoying competitive advantage in the marketplace. This is because competitive advantage can result from any number of "strategic assets". Many of these assets do not fit the precise definition of a Strategic Competency. Examples include a strategic location, unique relationships with a customer's prime decision makers, patents and contracts. These types of assets can certainly support a company's success for some period of time, but they almost always have a finite life span. The emphasis we place on identifying and building Strategic Competencies is due to their intellectual basis. Strategic Competencies stem from the intellectual attributes of a company, not its present position or assets. Strategic Competencies, derived from a combination of skills, processes, and knowledge, can sustain a company indefinitely and generally improve or become more valuable as they are used.

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