A set of entities (profit organizations, non-profit organizations, business freelancers, and individuals) sharing common aims.
Published in Chapter:
Competency Concept in VO Breeding Environments
Nathalíe Galeano (Tecnológico de Monterrey, México), Ekaterina Ermilova (University of Amsterdam, The Netherlands), Giraldo Jorge (Tecnológico de Monterrey, México), Hamideh Afsarmanesh (University of Amsterdam, The Netherlands), and Arturo Molina (Tecnológico de Monterrey, México)
Copyright: © 2008
|Pages: 8
DOI: 10.4018/978-1-59904-885-7.ch039
Abstract
In order to acquire more business opportunities, by adapting to new and changing market conditions, organizations face many strategic and operational challenges; one of them is related to identification and management of their competencies. Broadly speaking, competency management is the way in which organizations coordinate and manage the competencies of the corporation, groups, and individuals. It has the primary objective to identify and continuously maintain competencies, according to the objectives of the corporation. A competency is a way to put into the practice some knowledge, know-how, and also attitudes, inside a specific context. Identification of competencies has been well recognized as a key element for the achievement of company goals, complimenting core business processes, customer relationships, and financial issues; integration of all these elements will reflect as an increase in company’s competitiveness (Hamel & Prahalad, 1994; Norton & Kaplan, 1996).