Competitive advantage is vested in a range of competencies which when combined provide a level of uniqueness. Sustainable competitive advantage requires maintenance of that level of uniqueness through continual development. Competencies themselves are a complex combination of; skills, processes, technologies and assets.

This is recognised by leading companies worldwide, which is why most have set up formalised competency development processes.

At Balmoral Strategy Development Limited we term this a competency development plan and it is a fundamental element of our strategy development work. 

We also believe that this overall process can be cascaded down to an individual level and have created a process whereby competency development plans can be created for all employees.

Synthesis of these plans then allows company needs to be matched with the aspirations of its employees in an holistic way, with obvious benefits to all.

As usual all comments welcome - Stephen Coe - Director Balmoral Strategy Development Limited