A competence is a combination of different resources and capabilities:
* Resources are all tangible and intangible assets of a firm that can be used in the value creation process:
** [[Tangible assets]] resources include IT infrastructure, bricks-and-mortar infrastructure and financial capital.
** [[Intangible assets]] include employee knowledge, licenses, patents, brand name and reputation of a firm.
* Capabilities represent the ability of a firm to use resources efficiently and effectively. Skills manifest themselves in:
** Design of processes, systems and organizational structures.

Not all competences are a [[Core competence]]

Part of: [[M8-S2 - Reading - Strategies for E-Business - Chapter 4 - Internal Analysis]]
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