What is Core Competencies

The focus of this chapter is on the connection between good talent management and the development of sustainable competitive advantage in organizations. The resource-based view (RBV) of the firm is leveraged in analyzing that connection; RBV upholds that competitive advantage is closely related to an organization's internal characteristics. More specifically, if an organization owns and utilizes valuable, rare, inimitable, and non-substitutable resources and capabilities in its processes and operations, it will achieve superior performance and sustainable competitive advantage. A framework is developed that organizational leaders can use in facilitating conversations and developing talent management programs to ensure that their talent management processes are focused on honing the organization's core competencies that feed their sustainable competitive advantage and superior performance.