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What is a core competency?

What is a core competency? Here are some definitions.

Noun
  1. (management) An important special capability or expertise, especially that of a business affording it sustainable competitive advantage.
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Beyond cost cutting, BPO is also viewed as a strategic tool, allowing companies to jettison functions that fall outside their core competency.
Its core competency is knowledge of the latest trends in marketing and the new platforms for reaching consumers.
Flexibility has to be a core competency, both culturally and skill-wise, and it has to be written into the agreement.
Consultants who are independent of auditing and accounting can better focus on their core competency of solving increasingly complex business problems.
Managers know that building a talent pool is as much a core competency as is creating strategic advantage or championing change.
Are you giving away your brand equity or core competency when you do that?

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