Core competencies are the unique strengths and abilities that give an organization a competitive advantage in the marketplace. These competencies are often a combination of skills, knowledge, and resources that enable a company to deliver value to its customers. They are essential for achieving strategic goals and can include areas such as innovation, customer service, and operational efficiency. Identifying and developing core competencies is crucial for long-term success. Organizations can leverage these strengths to differentiate themselves from competitors and respond effectively to market changes. By focusing on their core competencies, companies like Apple or Toyota can enhance their performance and drive growth.