DEFINING THE CONCEPT OF CORE COMPETENCIES IN RELATION TO STRATEGIC MANAGEMENT AND INNOVATION MANAGEMENT

Core competencies do not have an agreed-upon definition in the literature, even though the popularity of this concept has been rising in the last decades. Traditionally, the concept of core competencies has been discusses in relation to management, in general, and more specifically, in relation to strategic management. In this paper, we analyse the place and value of core competencies in relation to strategic management, while, at the same time, argue that this concept can be enriched when placed in the context of innovation management. In this manner, the concept of core competencies can move away from being defined as an ideally fixed, and rigid part of a business, and can move towards a conceptualization that integrates its dynamic component. We also discuss the case of innovation as a core competency.