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What Is Core Competency? Explain How Core Competency Is Related

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Essay

What is core competency? Explain how core competency is related to competitive advantage, and give an example of how core competency gives an organization a competitive advantage.


Definitions:

Debits and Credits

Accounting entries that either increase or decrease accounts on a company's balance sheet and income statement.

Posting Process

The act of transferring entries from a journal to the corresponding accounts in the ledger as part of the accounting cycle.

Journal

A detailed record of all financial transactions, used as the primary source for all accounting entries.

Ledger

A comprehensive collection of a company's financial accounts, transactions, and balances over a period.

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