What strategy is a plan to use and develop core competences so that the organization can not only can protect and enlarge its domain but can also expand into new domains?

The strategy to utilize and develop core competencies for organizational growth involves leveraging unique strengths and capabilities to create competitive advantages. By focusing on innovation and adaptability, the organization can protect its existing market share while exploring new opportunities in different domains. This dual approach fosters sustainability and scalability, enabling the organization to respond effectively to changing market conditions and customer needs. Ultimately, it positions the organization for long-term success and growth in diverse areas.