“It’s a brew-tiful day to have a Starbucks drink”
The core competency of a company is a vast area. In simple words, it helps to build a strong base for the company. It is a combination of various skills and resources required/ possessed by the company that helps in distinguishing the company from others. It makes the company unique. Core competency strategies are not easy to replicate but once a company is successful to do so it helps in adding value. It is all about building health strategies for the future growth of the business, delivering value to its customers, identifying its strengths, working on its weaknesses, and most importantly converting threats to opportunities.
When someone talks about Starbucks a new aura is sensed. Starbucks core competency is quality. It does not compromise on quality and it even believes in the growth of the company by adding new flavors. Thus, giving its customers more freedom to choose among its variety of options. Speaking of their presentation strategies, it aims at
delivering quality + good customer service + good presentation value. And that’s why a prime hype is present among the public when it comes to Starbucks.
Adding cherry to the cake, Starbucks wants itself to be everywhere and that’s why it is building its empire to every corner. They leave no stone unturned when it comes to reaching out to their customers.
I feel that there is no full stop to applying Core competency strategies in the business world. Business is evolved in an uncertain environment that is, changes take place within a period, and to camouflage the business to these uncertain changes, one has to keep evolving and modifying their core competency strategies as well. For instance – trends and customer preferences regularly change therefore, the company has to make itself flexible enough to shape itself to the current requirements and How is that possible? By evolving Core Competency. Therefore, feeling fully secure about the current Core Competency is difficult.