CORE COMPETENCY Definition

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CORE COMPETENCY is a specific factor that a business believes as being central to the way it, or its employees work. A core competency normally fulfils three key criteria:

  • It provides customer benefits
  • It is not easy for competitors to imitate or duplicate
  • It can be leveraged widely to many products and markets.

Learn new Accounting Terms

GOING CONCERN CONCEPT is the underlying assumption that any accountant makes when he prepares a set of accounts. That the business under consideration will remain in existence for the foreseeable future.

EXCHANGE RATE RISK, in foreign exchange, is the variability of a firm's value due to uncertain changes in the rate of exchange.

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