Competence

Competence is a standardized requirement for an individual to properly perform. It encompasses a combination of knowledge, skills and behavior utilized to improve performance. More generally, competence is the state or quality of being adequately or well qualified, having the ability to perform a specific role.

To be competent you need to be able to interpret the situation in the context and to have a repertoire of possible actions to take and have trained in the possible actions. Regardless of training, competence grows through experience and the extent of an individual to learn and adapt.

Capability

Capability is the ability to execute a specified course of action. Capability is often used in the context of gap analyses.

In business and economics, gap analysis is a tool that helps a company to compare its actual performance with its potential performance. If a company or organization is not making the best use of its current resources or is forgoing investment in capital or technology, then it may be producing or performing at a level below its potential.

Consistency

In logic, a consistent theory is one that does not contain a contradiction. In business and negotiation, the consistency principle, refers to a negotiator's strong psychological need to be consistent with prior acts and statements.

Cleverness

Cleverness is the ability to use intelligence to become sharp, bright and witty. It also includes the aspects of superficially, skillful and resourceful.

Cleverness is important to show inventiveness and originality. In consequence, cleverness is a prerequisite to define the unique position of an organization in a market. At the end, cleverness is needed in order to become or remain competitive.

Competitiveness

Competitiveness is a comparative concept of the ability and performance of a firm or sub-sector to sell and supply goods and/or services in a given market. The concept widely used in economics and business management. In this context it is important to show the perceived superiority of a company´s portfolio. Therefore, products and services are often linked because as long as they act complementary, the best value can be offered to the customers. Perception plays a key role in this context and therefore communication plays a strategic role.

Communication is a process whereby information is enclosed in a package and is channeled and imparted by a sender to a receiver via some medium. The receiver then decodes the message and gives the sender a feedback. All forms of communication require a sender, a message, and a receiver. Communication requires that all parties have an area of communicative commonality. There are auditory means, such as speech, song, and tone of voice, and there are nonverbal means, such as body language, sign language, paralanguage, touch, eye contact, and writing.

Although there is such a thing as one-way communication, communication can be perceived better as a two-way process in which there is an exchange and progression of thoughts, feelings or ideas (energy) towards a mutually accepted goal or direction (information).

Empirical observation confirms that resources (capital, labor, technology) and talent tend to concentrate geographically. This result reflects the fact that firms are embedded in inter-firm relationships with networks of suppliers, buyers and even competitors that help them to gain competitive advantages in the sale of its products and services. While arms-length market relationships do provide these benefits, at times there are externalities that arise from linkages among firms in a geographic area or in a specific that cannot be captured or fostered by markets alone.