Business Innovation ? Core Competency and Competitive Advantage

Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation.

There are other useful definitions in this field, for example, creativity can be defined as consisting of a number of ideas, a number of diverse ideas and a number of novel ideas.

There are distinct processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea selection, development and commercialisation. Whilst there is no sure fire route to commercial success, these processes improve the probability that good ideas will be generated and selected and that investment in developing and commercialising those ideas will not be wasted.

Core Competency and Competitive Advantage

A core competence is one which critically underpins the organisation's competitive advantage. Companies can differentiate themselves from their competitors with specific core competencies, but often not for long. The differentiation is difficult to sustain and can often be imitated by competitors.

The integration (and attainment) of constituent skills that is the distinguishing mark of a core competence, is achieved and sustained through developing strong dynamic capabilities, particularly in a world of innovation based competition.

Whilst a core competence is a source of competitive advantage, not all competitive advantages arise from core competencies. Often seemingly unassailable advantages prove transitory because of a change of underlying factors.

The very existence of competitive advantage sets in motion creative innovations that, as competitors strive to level the playing field, cause the advantage to dissipate.

Recognition of, and adaptation, to change is thus a pre-requisite of successful strategy. For many organisations, the only truly sustainable advantage comes from out-innovating the competition.

These and other topics are covered in depth in the MBA dissertation on Managing Creativity & Innovation, which can be purchased (along with a Creativity and Innovation DIY Audit, Good Idea Generator Software and Power Point Presentation) from http://www.managing-creativity.com/

You can also receive a regular, free newsletter by entering your email address at this site.

You are free to reproduce this article as long as no changes are made and the author's name and site URL are retained.

Kal Bishop MBA, is a management consultant based in London, UK. He has consulted in the visual media and software industries and for clients such as Toshiba and Transport for London. He has led Improv, creativity and innovation workshops, exhibited artwork in San Francisco, Los Angeles and London and written a number of screenplays. He is a passionate traveller. He can be reached on http://www.managing-creativity.com/

---

Creating Advisory Boards

There is no substitute for soliciting the opinions of the... Read More

Do You Really Care What People Think?

You had better care! Because what people think usually leads... Read More

Transform Any Business into a Go-Getting Power House by Working SMART

Probably as well known as SWOT, SMART turns goals, objectives... Read More

Why Management Kills Creativity

Ten or so years ago, an international consultant, specializing in... Read More

Is Busyness Affecting Your Business?

I'm too busy; I'd love to but I'm very busy;... Read More

Selecting Top Talent: Improve Your Batting Average

I recently gave a presentation to a group of business... Read More

Selective Job Cuts Often Benefits Firm More Than Broad Layoffs Over Long Term

It is difficult to pick up a newspaper or listen... Read More

9 Strategies for Writing Accounts Payable Procedures

The Cash to Cash Cycle Part Four of SeriesNext: Complete... Read More

Training and ROI (Return On Investment)

Statistics consistently reinforce that the biggest challenge in today's contact... Read More

Provisioning/User Management System Upgrades: Part II ? Building Awareness And Building Approval

Somewhere in the world is a person who wants to... Read More

Bosses Are Out ? Managers As Coaches Are In

There is a new trend taking hold in business today... Read More

Hiring Tip -- Picking The Best Candidates

I often hear leaders from all types of organizations ask... Read More

Encouraging Behavior That Gets Results

You're the boss, and you have every reason to feel... Read More

Sexual Harassment Policy Guidelines Part I

Sexual Harassment Policy Guidelines ? Part IPermission is hereby granted... Read More

Balance Your Managerial Life

We have only one life, but we live in three... Read More

Lack of Operations Manuals Stunting Your Growth?

Lack of Operations Manuals stunting your growth?CONTENTS:1. Do you lack... Read More

Characteristics/Attributes of a Lean Operation

Fundamentals in Place? There is a designated place for everything... Read More

6 Steps To Effective Management During Change

Take the pain out of gain and decrease the upheaval... Read More

Why Outsourcing Could Be The Best Thing You Do For Your Business

While it's probably not true to say that the traditional... Read More

Personnel Access Poses a Continued Risk

The Security Consultant's Perspective...Implementing Personnel Security Initiatives should be the... Read More

The Paradox of Job Enrichment

Ellen was a clerk working for a large insurance company.... Read More

Building Bridges of Communication

Building a 'bridge of understanding' between parties is... Read More

Performance Evaluation: How To Create Change

STEPS TOWARDS GIVING A GOOD APPRAISAL INTERVIEW: Give specific feedback.... Read More

Why Would Anyone Do That in My Meeting?

Imagine that you open a meeting by saying, "We need... Read More

Organize your Office- Seven Solutions

1. Create a filing system with broad categories such as... Read More

Influencing Change - A Guide for Sellers, Coaches, and Supervisors

When people or groups make a decision to purchase something,... Read More

Cheat Sheet; Understanding The MSDS and Your Obligations In The Workplace To Employees

MSDS SHEETSMSDS stands for Material Safety Data Sheets. MSDS sheets... Read More

Effective Email Communication

Email, when used properly, can generate additional direct sales and... Read More

Are Your Marketing Pieces Up to Date?

The other day someone asked me for one of my... Read More

Outsourcing Problem Analysis

As an HR professional, you have responsibilities in several broad... Read More

5 Ways of Increasing Business Profits

The economy may finally be turning around and showing signs... Read More

Finding Common Ground Through Consensus Decision-Making

It's clear to me that a workplace is a better... Read More

Tales from the Corporate Frontlines: Workplace Ethics: Reaching the Highest Standard

This article relates to the Ethics in the Workplace competency,... Read More