This paper seeks to enhance practical applications, by refining the original core competence concept to better fit dynamic environments.
This paper combines theoretical research streams treating core competence and dynamic capability.
The original core competence concept cannot help managers with today's dynamic business environments. This paper theoretically reviews conceptions of core competence to enhance dynamism and better align theory and practice. The author concludes that a core competence could become more dynamic in three ways, by: balancing itself with the external environment and including external activities and processes; reducing path‐dependency influences; and carefully “orchestrating” resources, by guidance rather than control, to release the inherent potential of project teams.
The author rejuvenates a popular concept by including contemporary, more dynamic considerations; however, his propositions need to be tested empirically.
Three criteria are reformulated to match contemporary dynamism; these are also rephrased to better meet practical applications and take account of the internal sharing and transfer of competencies. This supplements the practitioner's toolbox for managing core competence in a company. For ideal core competence dynamism, managers should selectively incorporate external information and adapt external activities and processes, all to match the existing internal resource base.
This paper incorporates contemporary dynamics in an important strategy concept.
