Abstract
Between 1988 and 1994, Aerospace Composite Technologies (ACT) Ltd. completed a very successful business re-design, received national awards for quality and training excellence, became an independent company (following an MBO from Lucas Industries) and posted very encouraging financial results. This paper describes why this apparently successful aerospace firm decided in 1994 to re-examine its most basic competitive assumptions. Looking to establish substantial growth whilst facing a rapidly changing and uncertain environment, ACT sought to analyse its current and potential sources of competitive advantage—its competences. This paper discusses the process used to undertake this analysis and reviews the practical implications of the competence findings. © 1997 John Wiley & Sons, Ltd. and Cornwallis Emmanuel Ltd.
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