When times are tough, focus on the core (competencies)
The economic crisis unleashed by the outbreak of COVID-19 has hurt economies around the world. When times are tough, shedding non-core business processes is one of the most prudent and effective ways to cut costs while improving performance. By Tim Proome, general manager of Supply Chain Services, Tarsus Distribution Know your Core from your Context There is more pressure than ever for companies to provide superior customer service. In his book, ‘ Dealing with Darwin’ , Geoffrey Moore argued for the distinction between Core and Context, an approach that separates the few activities a company does that create true differentiation in customers’ eyes (Core), from everything else that a company needs to do to stay in business (Context). A focus on core competencies increases the sustainable competitive advantage of a company by creating value for customers. The core competency of any business is the strategic, competitive advantage it holds over its competitors. This can...