A Model for the Development and Implementation of Core Competencies in Restaurant Companies for Superior Financial Performance

Abstract

The purpose of this study was to identify whether firms that implement and develop core competencies perform significantly better than firms that do not. A model of core competency implementation and development in restaurant firms was developed and tested in three casual dining restaurant firms. The amount of co-alignment in the core competency process was compared to financial performance. Results indicated that firms that had a greater amount of alignment performed better. The highest performance was evidenced in the firm that not only had internal alignment but that appeared to have competencies that are also critical to success in the restaurant industry.