Questions and Answers

We've spent considerable amount of time identifying our competencies. Now what?

Understanding both your current competencies as well as those that will be required in the future is valuable in a number of places. The first thing you should determine is whether the competencies you have identified are "Strategic". Typically you will have only one strategic competency. To be strategic, a competency must have value to your customer and must differentiate you from your competition and be difficult to copy. There will be constant market and competitive forces that over time will tend to degrade both of these attributes. You should regularly look for ways to enhance the competency in a manner that increases the value and/or differentiation. Also, as you consider any new opportunity you should look closely to see if it would utilize a current competency. Doing so will enhance the competency and mitigate risk associated with doing something new. Finally, you should be very aware of the skills, processes, and knowledge that are the underpinnings of the competency. These are areas that should get primary attention in your company's training and development activities.

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