Core Competencies: A Means of Promoting the Strategies of Lead Figures in the Petrochemical Industry
This article has examined the concept of core competencies (CCs), highlighting their use by petrochemical leaders in effecting business activities. The document adds that CCs are affected by both official and professional standards; it deals with specific business functions and the business ventures' capacity to carry out strategic changes. Subsequently the review refocuses on management competencies (MCs), calling them effective mechanisms that enable a business venture to assume a leadership position and to retain a competitive market position. MCs and CCs help accelerate a commercial entity striving to attain its business goals. The goals, based on a number of requisites set forth by a competent specialist, reportedly reflect the petrochemical industry's essential qualities. The blueprint has proposed a strategy for petrochemical enterprises - including the formation and pursuit of the aforementioned competencies - that could achieve the following long-term objectives: creating a worker-hierarchy sequence; and promoting proper management functions.