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 are essential for delivering value to customers. They help businesses differentiate themselves from competitors 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 focus on enhancing these strengths to improve performance and adapt to changing market conditions. By leveraging their core competencies, companies like Apple or Toyota can create products and services that meet customer needs effectively and efficiently.