Life Technologies



Life Technologies

Core Competencies

The core competencies are the outcome of skills and techniques which are developed by the company to deliver the values to the customers. With the help of these competencies organizations are able to expand in variety of markets. Core competencies are made by evaluating the future challenges and opportunities for the business. It is done to become the market leader. According to Prahalad & Hamel (1990) core competencies also helps in the formation of core products. These products are then used to build further products or end products for end users (Prahalad & Hamel, 1990).

Core competencies are not developed at once. The process needs improvement continuously and takes time. It is very important for companies to build core competencies in order to gain success in the emerging market. It is not necessary that the companies can only have one core competency. It depends on the portfolio of the company that how many core competencies the company has (Prahalad & Hamel, 1990).

Core Competencies of Life Technology

Life technologies also have some core competencies due to which they are able to gain success in this business. Life technologies have more than one core competence. The core competencies of life technology are innovation, Global service, maximum flexibility and reproducibility. In innovation the company is very advance as compare to other companies in the industry for assembly and formulation. These are then combined computerized system of controls and tracking system (Lifetechnologies).

In maximum flexibility the company configures the products and customizes the buffer formulation. They do it at all scale. They provide their services in United States, Asia and in Europe. They have global distribution network and they fulfill the requirements of supply chain of other companies. The last core competency is reproducibility and it is done by controlling the quality and handling the liquid through automation (Lifetechnologies).

Companies have to make sure that the core competencies are for life time and at the middle of the business it must not be changed. It has been seen that companies make their core competencies which are based on prices. It is suitable in the starting days but with the passage of time it becomes difficult for companies to work according to their core competencies. The prices of the material rises and then companies are not able to compete on the price war (Lifetechnologies).

By viewing the core competencies of life technologies it can be said that company can use their core competencies as assets. These assets are then utilized to build and integrate further competencies for the business. Core competencies of life technologies are build with the help of strategic architecture of their business and management of the company is able to utilize the core competencies at its maximum competencies (Evaluatepharma, 2012).

SWOT Analysis

Strengths

The strengths of life technology is that they are an established brand in the market and have customer loyalty. On the basis of established brand they are able to get success in achieving more market shares. They have to make sure that they maintain ...