The Vijay Govindarajan Video Series Week 12
After a short seasonal break, the Vijay Govindarajan Breakthrough Innovation with the Three Box Solution series is back, and we begin 2020 with a new module:
Module 3: Core Competencies – 10 videos
First, it is important to know we mean by core competencies. VG starts Module 3 by telling us what a core competence is not. It is not, for example, a successful product. Or a dependable customer. Or a particular asset. A core competence is not something physical or tangible.
He then explains that to get to an understanding of what core competencies are you have to ask yourself what it is in your organization that enables it to create a profitable product. Or access a loyal customer base. Or develop valuable assets.
Using the example of Honda, VG demonstrates how core competence is an organizational-level concept. Rather than being a single skill, or a person, a core competence is, in Honda’s case, a synchronisation of system, culture, and methodology by which its engineers have learned to work over a long period of time.
In the second of this week’s videos, VG sets out two application exercises for you to learn how to identify your own organization’s core competencies, and then test their robustness by asking three questions. Once you understand what your core competencies are, and they have passed the three tests, then can you begin to leverage in future growth.
Video 17: Core Competencies – Honda
Video 18: Core Competencies – Application Exercises
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Three Box Solution Module 1 complete
Three Box Solution Module 2 complete
Three Box Solution Module 3 in progress
Three Box Solution Module 4 to come