What is core competency in SAP LOD-SF-PM - Performance Management?

SAP Term: core competency

• Component: LOD-SF-PM

• Component Name: Performance Management

• Description: A skill or ability that is key to doing well at the company, and is not dependent on a specific job.

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• Key Concepts: 
  Core competency is a term used to describe the combination of skills, knowledge, and experience that an organization has that sets it apart from its competitors. In the context of SAP Performance Management, core competency refers to the ability of an organization to use SAP software to manage its performance. 
  
  How to use it: 
  SAP Performance Management enables organizations to measure and monitor their performance in real-time. It provides a comprehensive view of performance across all areas of the business, including financials, operations, customer service, and more. It also allows organizations to set goals and objectives, track progress towards those goals, and identify areas for improvement. 
  
  Tips & Tricks: 
  When using SAP Performance Management, it is important to ensure that the data being collected is accurate and up-to-date. This will help ensure that the performance metrics are meaningful and actionable. Additionally, it is important to regularly review the performance metrics to identify areas for improvement and take corrective action when necessary. 
  
  Related Information: 
  SAP Performance Management is part of the larger SAP suite of software solutions. Other related solutions include SAP Business Intelligence (BI), SAP Business Planning and Consolidation (BPC), and SAP Analytics Cloud (SAC). These solutions can be used in conjunction with SAP Performance Management to provide a comprehensive view of an organization’s performance.