Core competency refers to something that a business does well than others. It means an ability of a business which distinguishes it from others. Core competency provides consumer benefits. It cannot be copied by the competitors. Core competency can be leveraged widely to many other products and markets. Fortunately, over time, the concept of core competency has evolved. All core competency definitions, however, include the concept of competitive advantage. A business can have more than one core competency.