Introduction

An advantage can be gained on the competition by building up skills or competencies that only you have. They are then called central skills or core competencies of your company. Core skills have to be unique when compared to your competitors, they must ensure a benefit for the customer and your competitors should not be able to imitate them and they should provide you with access to a high number of markets. If you possess central skills, you are able to gain additional profits. Core skills however, are closely related to knowledge and knowledge management. Knowledge management has gradually become positioned as a strong methodology to support business viability, competitiveness and growth. Today knowledge is a key strategic resource for any company.