The multi-dimensional view of Core Competence is addressed differently by different scholars (Barney, 1991; Javidan, 1998; Collins, Smith and Clark, 2005). However, theoretical basis in this regard is still fragmented. Thus, we conceptualize the notion of core competencies. Core competence, resources and competence have been identified as the main constructs of the study. Subsequently, two propositions were developed and model was constructed based on the literature reviewed. We postulate, Capabilities, competencies and resources are the dimensions of core competencies and identical core competencies lead to gain a competitive advantage for a firm. Furthermore, competitive advantages usually proceeds to grow a firm.