The core

core business processes:

• the market sensing process -- all the activities involved in gathering market intelligence, disseminating it within the organization, and acting on the information
• the new offering realization process -- all the activities involved in researching, developing, and launching new high-quality offerings quickly and within budget
• the customer acquisition process -- all the activities involved in defining target markets and prospecting for new customers
• the customer relationship management process -- all the activities involved in building deeper understanding, relationships, and offerings to individual customers
• the fulfillment management process -- all the activities involved in receiving and approving orders, shipping the goods on time, and collecting payment

Core competency has three characteristics:

1. it is a source of competitive advantage in that it makes a significant contribution to perceive customer benefits
2. it has applications in a wide variety of markets
3. it is difficult for competitors to imitate

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