Advantage in Nigerian Pharmaceutical Industry
The study empirically tested the relationship between core competencies and competitive advantage in organizational performance. According to the literature, core competencies and competitive strategies are crucial factors in organizational productivity or performance but the focus of this study is to determine whether core competencies lead to better competitive advantage for firms to reposition themselves in face of daunting economic challenges in business environment. The study was conducted by qualitative examination of objective and subjective data sourced from journals, articles, internets and books. The data obtained supported the previous researchers’ hypotheses implying a positive relationship between core competencies and competitive advantage. Several implications for management and policy are also discussed in light of the findings of this study. It was concluded that, managers must view their organizations as bundles of competencies which have to be continuously managed for gaining a competitive advantage. The study recommended that the management of core competencies, which is critical to an organization’s sustained success, should be a conscious effort on any firm, rather than something to be left to chance.
Key Words: Core Competency, Competitive Advantage, Competitive Strategy, Managerial Competence
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