Let us assume that you have a meeting with your board to set the long-term priorities for your company. At present, you may have a vision or strategic direction for your company. It could be something like.. we plan to compete based upon differentiation.. or we plan to focus on high technology company.. or we decide to concentrate our resources on the high end, performance or low-end segment.. or in all segment However, before your meeting, you need to decide on what capabilities you need to develop to execute your strategy? But what capabilities do you need to develop to execute your strategy? For example, it is one thing to say, We will compete on price, and another to build a company that can effectively compete on price and still produces a solid return for stakeholders. Lets relate two popular ideas, Core Competence and Competitive Advantage, to your situation. You could develop competencies in awareness, accessibility, product redesign, product invention, automation, plant utilization, human resources, cash flow management, and forecasting. All of these competencies take several years to develop. You would use these competencies to develop competitive advantages. With this as background, present an argument for your teammates. This assignment is the pre- work for the meeting. 1. What are the top three competencies you believe necessary to execute your vision and strategy?

2. What decisions do you need to make to develop these competencies?