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Definition: Core Competence is an inside-out corporate strategy model by Hamel and Prahalad ('90) that initiates the strategy process by thinking first about the core strengths of an organization.
Proponents of this approach argue that in the long run, competitiveness derives from an ability to build a CC, at lower cost and more speedily than competitors.
The outside world (market, competition, customer) is (only) considered afterwards, unlike outside-in strategy tools such as Porter's Five Forces model.
See also Distinctive Capabilities, Dynamic Capabilities.