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Chikiza Professional Consultants ltd, Chingola (2026)

08/03/2025

Happy international women's day to you all women out there Gid bless you

22/02/2023

Labor economics is the study of the labor force as an element in the process of production. The labor force comprises all those who work for gain within the labor market, whether as employees, employers, or as self-employed, but also the unemployed, who are seeking work.

18/06/2020

GOOD NEWS TO ALL UNIVERSITIES AND COLLEGES STUDENTS ITS BWITH GREAT PLEASURE TO INFORM UOU ALL THAT WE ARE NOW DOING TUTIONS AND ASSIGNMENTS SOLVING IN BUSINESS AND SOCIAL RELATED COURSE CHARGES VARY WITH THE COMPLEXITY OF THE ASSIGNMENT

10/04/2020

GOOD FRIDAY

13/12/2017

SOME MORE CASES TO HAVE A LOOK AT

Great Northern Railway v Witham (1873)
W supplied coal at times and quantities as required by the store master, there was a request for supplies which was not met and was successfully sued. The court held that W offer was a standing offer tender, which, as each order is placed, becomes a series of contracts that the tenderer is obliged to fulfil. Thus when the order was placed he had obligation to supply the goods. (Cant insist on orders and can withdraw offer anytime so long as an order has not been placed and the revocation is communicated to the other party)

Harvela Investments Ltd v Royal Trust Company of Canada Ltd (1986)
The offers were to be made by a deadline in the form of sealed bids. One party's offer consisted of a referential bid in that he offered a sum of money, but also offered, in the alternative, a sum that was a fixed amount higher than any other bid. The shareholder wished to accept this bid, for obvious reasons, but the House of Lords held that it did not constitute acceptance appropriate to the firm offer, ie: to accept the highest bidder, that had been made. The shareholder's willingness to accept it demonstrated that he did not fully comprehend the proposal he had made. In fact, the other party had offered a greater amount in terms of actual specified amounts and was therefore the highest bidder. Point of Law, a referential bid cannot be acceptance of a firm offer. Whether a request for parties to tender will be an offer, or an invitation to treat, will depend on the terms of that request. Obiter or (by the way) if allowed it would present practical problems if all made a referential bid who would be successful? And it went against the principles of fixed bidding, which is to provoke best price.

De Francesco v Barnum (1890)
A girl of fourteen was apprenticed to D for seven years in order to learn to dance. D was not obliged to maintain her, nor did he have to pay her unless he found engagements for her. Even when engagements were found, the rate of pay was very low. She could not obtain engagements for herself, nor was she allowed to marry, during the seven years. It was held that the contract was not binding upon the girl, as it was unreasonable, oppressive and not beneficial to her.

14/09/2017

Total Quality Management

DEFINITION
Total quality management (TQM) has the whole organization working
together to give products with guaranteed high quality. It aims at systematically
improving the quality of products until the organization makes
products of perfect quality.

AIMING FOR PERFECT QUALITY
The last chapter showed how organizations could minimize their costs by
aiming for perfect quality or zero defects in their products. An obvious
way of improving quality is to use more rigorous inspections – but there is
an old saying that ‘you can’t inspect quality into a product’. A better alternative
is not to inspect units and discard defective ones but to make sure
that no defective units are made in the first place. This is the basis of TQM.
The key idea behind TQM is that quality management is not a separate
function to be treated in isolation, but is an integral part of all operations.
Everybody in the organization is concerned with quality. Suppose you go
to a tailor and order a suit. You will only be satisfied if the suit is well
designed, if it is well made, if there are no faults in the material used, if the
price is reasonable, if the salesperson is helpful, if the shop is pleasant and
so on. This means that everyone in the tailor’s shop – from the person who
designs the suit to the person who sells it, and from the person who owns
the organization to the person who keeps it clean – is directly involved in
the quality of their product.

ORGANIZING FOR TQM
Total quality management involves a change of emphasis from inspections
at the end of a process to a focus on operations during the process itself, to
make sure no defects are produced, and on the planning stages, to ensure
that the design allows high quality.
During the process, operations departments take responsibility for their
own quality. Each person is responsible for only passing on units that are
of perfect quality. This is quality at source, with job enlargement for each
person who is now responsible for both their previous job and an inherent
quality management function.
With quality at source, anyone who finds a fault realizes that something
has gone wrong and has the authority to stop the process and investigate.
They find the cause of the fault and suggest ways of avoiding more faults
in the future. Total quality management also affects the way people are
paid. Traditionally people were paid to make high volumes – often using
‘piece work’ – with little regard for quality. Total quality management
requires that people should also be paid for quality, so they become interested
in how well they make the product and are willing to suggest
improvements. These might be collected at quality circles, which are
informal groups of about 10 people who work on a process. They typically
meet for an hour once or twice a month to discuss ways of improving their
operations, perhaps discussing problems, looking at alternatives for
improvements, examining suggestions, modifying designs, and so on.
Their aim is simply to discuss the operation and try to find improvements.
Many companies who use quality circles have immense benefits, but
they can only be used with:
a well-educated workforce capable of recognizing, analysing and
solving problems;
people who are able and willing to exchange ideas;
people who see themselves as working for the good of the organization; a management that is willing to share information about costs and
operations

05/09/2017

Contract Law Cases
Wilkie v London Passenger and Transport Board (1947)
Discussion as to where a contract is made on a bus, debate over where offer and acceptance took place. It was said that it was the actions of the parties not what was anything that was said specifically on each bus journey. Obiter, the bus driving around is an implied offer, you getting on the bus is your acceptance thus if before you pay you have an accident on the bus, the bus company can be sued for breach of contract.

Partridge v Crittenden (1968)
P placed an advertisement which read "Bramblefinch C***s, Bramblefinch Hens, 25 shillings each." The advertisement was placed in a general classified section and did not use the words "offer for sale". He sold a bird to a third party who opened its box in the presence of C, an RSPCA inspector. From the bird's leg ring, it was apparent that the bird was a wild bird and had not been bred in captivity. To offer such a bird for sale was an offence under the Protection of Birds Act 1954. P was charged with that offence, and convicted, but the conviction was quashed on appeal. The advertisement was deemed to be an invitation to treat and not an offer for sale. Therefore, the offence could not be demonstrated to have occurred. P could have been charged with the offence of the completed sale, but the prosecution had instead chosen to rely on the offence of "offering for sale" and had then failed to establish that offence.

Fisher v Bell (1960)
A shopkeeper had a flick knife on display in his shop window, with a price tag on it. He was charged with the offence of offering for sale an offensive weapon, but was acquitted as, in fact, he had merely invited offers. Point of Law was an item displayed in a shop window is not an offer to sell but an invitation to treat

16/08/2017

Misrepresentation
Learning Outcome: To explain when an apparently valid agreement may be avoided because
of misrepresentation.
During the negotiations preceding a contract, statements are often made with a view to
inducing the other party to enter into a contract. If any such statement is false, the party
thereby misled is not agreeing to what is the true state of affairs and the contract may be
voidable for misrepresentation. Misrepresentation, therefore, may be defined as a false
statement of fact (not of law or a mere expression of opinion), made by one party to the
other before the contract, and made with a view to inducing the other party to enter into it.
The statement must have been intended to be acted upon, and it must actually have
deceived the other party and induced him to make the agreement.
Even a misleading half-truth can be a misrepresentation as when a person, completing a proposal
form for life assurance, stated that he had had two previous proposals accepted but omitted
to mention that several other proposals had been rejected [London Assurance v. Mansel
(1879)]. However, as a general rule, silence cannot amount to misrepresentation and there is no
duty to disclose facts, even though the silent party knows that the other party is deceiving himself.
In contracts for the sale of goods, this rule is known as caveat emptor (let the buyer beware).
There are two exceptional instances when there is a duty to disclose. The first is a duty
to correct statements which were true when made but, because the facts have changed, they
have subsequently become false and it would be unfair to let them stand. In With v.
O’Flanagan (1936), it was held that a true statement about the profits from a doctor’s practice
should have been corrected when the practice was sold some months later and in the
meantime the profits had fallen because of the doctor’s illness.
The other exception relates to contracts of the utmost good faith (uberrimae fidei), contracts
where one party alone possesses full knowledge of the material facts and must disclose
them. This applies in contracts of insurance with respect to material facts affecting
the decision whether to insure and in fixing the amount of the premium; in contracts for
the sale of land with regard to defects in title; in a prospectus inviting subscription for
shares as to matters required by statute; and in contracts for family arrangements.
Misrepresentations may later become incorporated as terms in the contract. If so, it will be
more advantageous for the party deceived to sue for breach of contract which, if successful,
gives an automatic right to damages. Damages will not normally be awarded for misrepresentation
if the person liable can prove that he reasonably believed that he was telling the truth.
It may not be easy to distinguish between contractual promises and mere representations, but
the courts will usually hold that, in contracts of sale, statements made by dealers are contractual
terms and statements made by sellers who are not dealers are representations.
46 STUDY MATERIAL C5
ESTABLISHING CONTRACTUAL OBLIGATIONS
In all instances of misrepresentation the contract is said to be voidable at the option of
the party deceived. The contract may be rescinded or ended, and the parties restored to
their original positions, for example by returning property transferred and money paid. The
right to rescind will be lost if such restoration is not possible as when property has been
resold or destroyed. The right will also be lost if the party deceived affirms the contract by
going on with it, knowing of the misrepresentation.
The right of rescission is ‘equitable’, which means that the courts can refuse to grant it
when they think that it would be unfair. The courts will insist that rescission be exercised
reasonably promptly once the misrepresentation has been or should have been discovered
by reasonable diligence; this rule is necessary to avoid uncertainty as to the ownership of
property which might or might not have to be returned. What is ‘reasonably promptly’ is a
question of fact. For things that change rapidly in value the time can be very short – sometimes
only weeks or less. Rescission will become effective from the time that it is made
public, for example by notifying the other party or, if this is not possible, informing the
police [see Car and Universal Finance Co. Ltd v. Caldwell (1965)].
A claim for damages is the other possible remedy for misrepresentation.
● Damages can be awarded if the claimant can prove that the misrepresentation was made
deliberately and fraudulently. It is the claimant who must prove that there has been fraud
and this is not easy. This is therefore not very common.
● Under the Misrepresentation Act 1967 s.2(1) damages may also be claimed unless the
defendant can prove that, up to the time of contracting, he believed that the statements
were true and had reasonable cause to believe so. This is sometimes referred to as negligent
misrepresentation. It has the great advantage that negligence is presumed, so that the
defendant must in effect prove his innocence.
● Under the 1967 Act s.2(2), damages may also be awarded at the court’s discretion, as an
alternative to rescission, even for innocent misrepresentation. If the defendant can prove his
innocence, however, the claimant has no right to damages. He can only ask the court to
exercise its discretion in his favour. This is not common.

28/06/2017

THE MARKETING CONCEPT
‘The marketing concept holds that the key to achieving organisational
goals consists in determining the needs and wants of target markets and
delivering the desired satisfactions more effectively and efficiently than
competitors’ (Kotler). The target market is defined as the set of actual and
potential buyers of a product.
Kotler distinguishes the marketing concept from the following:
The product concept, which holds that consumers will favour those
products that are available and highly affordable, and therefore
management should concentrate on improving production and distribution
efficiency.
The product concept, which holds that consumers will favour those
products that offer the most quality, performance and features, and
therefore the organization should devote its energy to making
continuous product improvements.
The selling concept, which holds that consumers will not buy enough of
the organization’s products unless the organization undertakes a
substantial selling and promotional effort.
The limitations of these concepts are obvious. While not dismissing the
importance of production quality and product innovation, the danger of
being production orientated is that products are handed over to the sales
force to sell without any consideration being given to these fundamental
truths: ‘Consumption is the sole end purpose of all production; and the
interest of the producer ought to be attended to only in so far as it may be
necessary for promoting that of the consumer’ (Adam Smith, The Wealth of
Nations, 1776). ‘The customer is the only arbiter of quality – and an
improvement the customer cannot understand or doesn’t want is no kind
of improvement at all’ (Willsmer).3 However desirable the merits of the
product, they are never desirable at any price (Heller).4 The danger of
being sales orientated is the pursuit of volume rather than profit. And, as
Levitt5 wrote: ‘Selling focuses on the needs of the seller: marketing on the
needs of the buyer. Selling is preoccupied with the seller’s need to convert
his product into cash; marketing with the idea of satisfying the needs of
the customer by means of the product and the whole cluster of things
associated with creating, delivering and finally consuming it.’

21/06/2017

COMPANY SITUATIONAL ANALYSIS

To evaluate how well a company’s strategy is working, one needs to start with what the strategies. The first thing to understand is the company’s competitive approach – whether it is striving for low-cost leadership trying to differentiate itself from rivals, or focusing narrowly on specific customers groups and market niche.

The best evidence of how well a strategy is working comes from the company’s recent strategic and financial performance. The stronger a company’s strategic and financial performance, the more likely it has a well conceived, well executed strategy. The most obvious indicators of a firms strategic and financial performance include:

1. Whether firm’s market share is rising or falling.
2. Whether the firm’s profit margins are increasing or decreasing and how large they are relative to rival firms
3. Trends in the firm’s net profits and return on investment
4. Whether the firm sales are growing faster or slower than the market as a whole
5. Whether the firm enjoys a competitive advantage or is at a disadvantage, and
6. Whether its long-term competitive position is becoming stronger or weaker

SWOT ANALYSIS
Swot is an acronym for a company’s strengths, weaknesses, opportunities and threats. A swot analysis consists of evaluating a firms internal strengths and weaknesses and its external opportunities and threats. It shows the importance of the point that strategy must produce a good fit between a company’s internal capability and its external situation.

The table below lists the considerations used to identify a company’s strengths, weaknesses opportunities and threats.

SWOT ANALYSIS

A CHECKLIST OF WHAT TO LOOK FOR
Location of Factors Favourable Unfavourable

Internal Strengths:
• Quality products in many consumer and industrial markets
- Product innovation skills
-Good competitive skills
• Respected name among buyers of its products
-competitive advantage
-proven management
-distinctive competence
• Financial power
Cost advantage
• Technical leadership in many sectors
-acknowledge market leader
-well conceived financial area strategies
-access to economies of scale
Weaknesses
• No clear strategic direction
-lack of managerial depth and talent
-poor track record in implementing strategy
-unable to finances needed changes in strategy
• Bureaucracy and many layers of management
-missing any key skills or competences
-plagued with internal operating problems
• High cost of production
- failing behind in R & D
• Unstable annual sales
• Obsolete or poor facilities
• Detenoting competitive position in many markets
-competitive disadvantage

External Opportunities:
• High technology and service sectors growing rapidly
• Complacency among rival firms
• International markets growing
• Enter new markets and segments
-diversify into related products
-ability to move to better strategic groups
• Government’s more lenient in cooperative joint venture
• Company technologies can provide new products for new markets Threats
• Adverse government policies/regulations
• Existing markets facing many changes
-adverse demographic changes
-changing buyer needs and tastes
-growing bargaining power of customers or suppliers
• Foreign firms have lower production costs
• Rising sales of substitute products
• Sales gains by competitors into it established markets especially big entrants into the in big entrants into the industry
• Many products are no longer competitive
- vulnerable to recession or and business cycles
STRENGTH - Is something a company is good at doing or a characteristic that give it an important capability. A strength can be a skill, skill, a competence, a valuable organizational resource or competitive capability that give the company a market advantage.

A WEAKNESS – is something a company lacks or does poorly (in comparison to others) or a condition that put it at a disadvantage.

A company’s internal strengths usually represent competitive assets. It internal weaknesses, usually represent competitive liabilities. A company’s stress/Assets should out outweigh its weaknesses/liabilities by a hefty margin.

Successful strategists seek to exploit what are a company does best – its expertises,, strengths, core competences and strongest competitive to strategy making rests with:

1. the added capability it gives an organisation in going after a particular market opportunity.
2. the competitive edge it can yield in the market place and
3. its potential for being a cornerstone of strategy
OPPORTUNITIES
Market opportunities are a big factor in shaping a company’s strategy. Not every company in an industry is well positioned to peruse each opportunity that exists in the industry some companies are always better situated than others.
The industry opportunities most relevant to a particular company are those that offer important avenues for growth and those where a company has the most potential for competitive advantage.

THREATS
Are the factors in the company’s external environment that pose threats to its well-being.

Threats can stem from the emergence of cheaper technologies, rivals introduction of new or better products, the entry of low – cost foreign competitors into a company’s stronghold, new regulations that are more burdensome to a company than to its competitors vulnerability to a rise in interest rates the potential for a hostile takeover or liquidation/revership, unfavourable demographic sh*ts, adverse changes in foreign exchange rates, political upheaval at a company’s facilities etc.

The most important of SWOT analysis involves evaluating the – strengths/weakness/opportunities/threats and drawing conclusions about the attractiveness of the company’s situation and need for strategic action.
STRATEGIC COST ANALYSIS & ACTIVITY COST CHAINS

One of the most telling signs of the strength of a company’s strategic position is its cost position relative to competitors. Cost comparisons are especially critical in a commodity product industry where price competition typically dominates and lower cost companies have an upper hand.

Disparities in costs among rival producers can stem from differences in

• The PRIZES paid for raw materials, component parts, energy and other items purchased from suppliers
• Basic technology and the age of plants and equipment
• Internal operating costs due to economies of scale associated with
(a) different size plants
(b) learning and experience curve effects
(c) different wage rates
(d) different productivity levels
(e) different administrative overhead expenses
(f) different tax rates
(g) different tax rates

• rivals’ exposure to inflation and changes I foreign exchange rates
• marketing costs, sales and promotion expenditures and advertising expenses
• unbound transportation costs an outbound shipping costs
• forward channel distribution costs

- The higher a company’s costs are above those of rivals, the more competitively vulnerable it becomes
- Strategic cost analysis focuses on a firm’s cost position relative to its rivals
- the primary analytical tool of strategic cost analysis is the an activity cost chain supply to the price paid by ultimate customers.

The primary analytical tool of strategic cost analysis is the = ACTIVITY _ Cost Chain showing the build up of value from raw material supply to the price paid by ultimate customers

It requires breaking a firm’s own historical

1. cost accounting data into principal cost categories
2. developing cost estimates for the backward and towered channel portions

- To see how firms cost position compares rivals
- same cost elements for each rival must be estimated advanced and in competitive intelligence in itself.

MAIN AREAS IN THE COST CHAIN
There are three (3) main areas in the cost chain where important differences in competitors’ relative costs can occur:
(i) In suppliers part of the cost chain
(ii) In each company’s activity segments
(iii) In forward channel portion

If cost disadvantage is from the suppliers par then
(1) Negotiate more favourable prices with suppliers
(2) Work with suppliers to help them achieve lower costs
(3) Integrate backward to gain control over the costs of purchased goods.
(4) Try to use lower:- priced substitute inputs
(5) Try to save on inbound shipping costs
(6) Try to make up the difference by cutting cost elsewhere in the chain

(b) a company’s strategic option for eliminating costs disadvantages in the forward end of the chain include:
• Pushing distributors and on the forward channel allies to reduce their costs and mark-ups.
• Changing to a more economical distribution strategy including forward integration.
• Try to make up the difference by cutting costs earlier in the chain.

When the source of a firm’s cost disadvantage is internal, it can use any of nine strategic approaches
• Initiate internal budget tightening measures.
• Improve production in methods and work procedures
• Try to eliminate some cost – producing activities altogether
• Relocate high cost activities to geographical areas where they can be performed cheaper
• Subcontract certain activities that will be cheaply be done by others than can be done internally.
• Invest in cost saving technological improvements (automation, robotics, computerised controls etc)
• Innovate around the troublesome cost components as new investments are made in plant and equipment
• Simplify the product design and make it easier to manufacture
• Reduce internal cost disadvantage by cutting costs in the backward and forward portions of the chain.

COMPETITIVE STRENGTH ASSESSMENT
1. Systematic assessment of whether a company’s competitive position to strong or weak relative to close rivals is an essential step in company situational analysis.
2. High competitive strength ratings signal a strong competitive position and possession of competitive advantage; low ratings signal a weak position and competitive disadvantage.
3. A weighed competitive strength analysis is conceptually stronger than the unweighed analysis because of the inherent weaknesses in assuming that all the strengths measured are equally important

Illustrations of Unweighted and Weighted Competitive Strength Assessments

A. Sample of An Unweighted Competitive Strength Assessment
Rating scale: 1 = Very weak; 10 = Very strong
ABC Rival Rival Rival Rival
Key Success Factor/Strength Measure Co. 1 2 3 3
Quality/product performance 8 5 0 1 6
Reputation/image 8 7 10 1 6
Raw material access/cost 2 10 4 5 1
Technological skills 10 1 7 3 8
Advertising effectiveness 9 4 10 5 1
Marketing/distribution 9 4 10 5 1
Financial resource 5 10 7 3 1
Relative cost position 6 5 8 1 4
Ability to compete on price 5 7 10 1 4
Unweighted overall strength rating 61 58 71 26 32
B. Sample of a Weighted Competitive Strength assessment
Rating scale: 1 – Very Weak; 10 = Very strong
ABC Rival Rival Rival Rival
Key Success Factor/Strength Measure Weight Co. 1 2 3 4
Quality/product performance 0.10 8/0.80 5/0.50 10/1.00 1/0.10 6/0.60
Reputation/image 0.10 8/8.80 7/0.70 10/1.00 1/0.10 6/0.60
Raw material access/cost 0.10 2/0.20 10/1.00 4/0.40 5/0.50 1/0.10
Technological skills 0.05 10/0.50 1/0.05 7/0.35 3/0.15 8/0.40
Advertising effectiveness 0.05 9/0.45 4/0.20 10/0.50 5/0.25 1/0.05
Marketing/distribution 0.05 9/0.45 4/0.20 10/0.50 5/0.25 1/0.05
Financial resource 0.10 5/0.50 10/1.00 7/0.70 3/0.30 1/0.10
Relative cost position 0.85 5/0.75 10/3.00 3/1.00 1/0.35 4/1.40
Ability to compete on price 2.5 6/1.75 1/05 10/0.10 1/0.35 4/1.60
Unweighted overall strength rating 1.00 6.20 8.20 7.00 2.10 2.90

21/06/2017

BUILDING CORE COMPETENCIES AND COMPETITIVE CAPABILITIES

High among the organization-building priorities in the strategy implementing/executing process is the need to build and strengthen competitively valuable core competencies and organizational capabilities.
Whereas managers identify the desired competencies and capabilities in the course of crafting strategy, good strategy ex*****on requires putting the desired competencies and capabilities in place, upgrading them as needed, and then modifying them as market conditions evoke.

Sometimes a company already has some semblance of the needed competencies and capabilities, which strategy ex*****on.
More usually, however, company managers have to significantly broaden or deepen certain capabilities or even add entirely new competencies in order to put strategic initiatives in place and execute them proficiently.
A number of prominent companies have succeeded in establishing core competencies and capabilities that have been instrumental in making them winners in the marketplace.

Sometimes a company already has some semblance of the needed competencies and capabilities, which strategy ex*****on.
More usually, however, company managers have to significantly broaden or deepen certain capabilities or even add entirely new competencies in order to put strategic initiatives in place and execute them proficiently.
A number of prominent companies have succeeded in establishing core competencies and capabilities that have been instrumental in making them winners in the marketplace.

The Three- Stage Process of Developing and Strengthening Competencies and Capacities

Building core competencies and competitive capabilities is a time-consuming, managerially challenging exercise.
While some organization –building assist can be gotten from discovering how best-in-industry or best-in world companies perform a particular activity, trying to replicate and then improve on the competencies and capabilities of others.

The capability building process has three stages:

Stage 1
–first, the organization must develop the ability to do something, however imperfectly or inefficiently.
This entails selecting people with the .requisite skills and experience,
upgrading or expanding individual abilities as needed, and
then molding the efforts and work products of individuals into a collaborative effort to create organizational ability
Stage 2 –As experience grows and company personnel learn how to perform the activity consistently well and at an acceptable cost, the ability evolves into a tried and-true competence or capability.
Stage 3 –Should company personnel continue to polish and refine their know-how and otherwise sharpen their performance of an activity such that the company eventually becomes better than rivals at performing the activity, the core competence rises to the rank of a distinctive competence (or the capability becomes a competitively superior capability), thus providing a path to competitive advantage.
Stage 3 –Should company personnel continue to polish and refine their know-how and otherwise sharpen their performance of an activity such that the company eventually becomes better than rivals at performing the activity, the core competence rises to the rank of a distinctive competence (or the capability becomes a competitively superior capability), thus providing a path to competitive advantage.

Many companies are able to get through stages 1 and 2 in performing a strategy critical activity, but comparatively few achieve sufficient proficiency in performing strategy-critical activities to qualify for the third stage.

Managing the Process
Four traits concerning core competencies and competitive capabilities are important in successfully managing the organization- building process:
Core competencies and competitive capabilities are bundles of skills and know how that most often grow out of the combined efforts of cross-functional work groups and departments performing complementary activities at different locations in the firm’s value chain.
Rarely does a core competence or capability consist of narrow skills attached to the work efforts of a single department.

Normally, a core competence or capability emerges incrementally our of company efforts either to bolster skills that contributed to earlier successes to respond to customer problems, new technological and market opportunities, and the competitive maneuvering of rivals.

3. The key leveraging a core competence into distinctive competence (or a capability into a competitively superior, capability) is concentrating more effort, and more talent than rivals on deepening and strengthening the competence or capability, so as to achieve, the dominance, needed for competitive advantage.

4.Evolving changes in customers’ needs and competitive conditions often, require tweaking and adjusting a company’s portfolio of competencies and intellectual capital to keep its capabilities freshly honed and on the cutting edge. This is particularly important in high-tech industries and fast paced markets where important development occur weekly.

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