Focus on your Core Competency to Increase your Ad Agency’s Speed to New Business

Spending money on what you don’t do well is as important as spending it on what you do well
by Todd Knutson  |   published on January 21, 2009

Last week an agency principal from the West coast called and said, "I haven't forgotten you, we just got busy (months after his initial call). But, now we're ready to move forward with new

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RPS implemented its business plan to build the industry’s first Pharmaceutical Resource Organization model. This innovative new business model was created specifically to address the anticipated challenges facing the bio pharmaceutical industry, including the need to contain costs, improve quality and accelerate the drug development process. The RPS plan was dedicated to achieving the goal of providing the bio pharmaceutical industry with an alternative to traditional outsourcing models by offering customized, integrated solutions that addressed these fundamental industry challenges.

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A core competency is something that a company does well compared to others in its field; it’s an edge that can be used in marketing to offset competitors’ strengths.  All successful businesses know their core competencies and conduct their business around them.intelcpu

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Core competency originates from C. K. Prahalad and Gary Hamel in their 1990 paper “The Core Competence of the Corporation.” Prahalad and Hamel highlight core competency as a source of uniqueness that a company can do uniquely well, offering a competitive advantage as competitors can’t quickly copy.photo frame

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Give them the clout and resources to get what they need from the agency as if they are the primary contact person for your most important client. Their projects are not put on the back burner when the agency gets busy. Allow them the time, resources and realistic expectations to build a consistent new business pipeline.

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Core Technologies and Competencies is the set of internal capabilities, organizational competencies and assets that could potentially be leveraged to deliver value to the customers, including technologies, intellectual property, brand equity and strategic relationships.
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