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Ran across this word today – Edge Competencies.
What does it mean? I set out to learn more.
In a standard manner I
The term edge competencies is coined as a direct contrast to core competencies.
Here’s my understanding of it.
Core competencies is a oft-heard concept in management consulting and business strategy. In a nutshell, it refers to a set of things that a company do best compared to its competitors. This “set of things” is not easily copied by competitors. The result of which is that the company will gain competitive advantage and differentiate from competitors.
Edge here refers to the edge of the company – which is where the company meets the outside, the customers, the suppliers, the world at large.
The argument of edge competencies is that competitive advantage has shifted from the core of the company (within) to the edge of the company (outside).
So instead of figuring out how to leverage the internal resources, think of the external, the knowledge that is encapsulated in the masses.
Ring a bell? Do you see edge competencies is the essense of Web 2.0? Leveraging on the capabilities outside of the company, mix and mash, tapping into the wisdom of the users.