lykilvirkni
Lykilvirkni is a term used in management and strategic planning in Iceland to describe the essential activities that constitute an organization’s value creation. These activities are central to delivering the company’s value proposition to customers and differentiating it from competitors.
Core activities are identified through analysis of the value chain, customer needs, and the organization's core
Examples across sectors include: in manufacturing, production lines and quality assurance; in information technology, product design,
Relationship to strategy: Clarifying lykilvirkni helps align resources, capabilities, and partnerships with strategic goals and informs
Notes: The term is used in both private sector firms and public organizations to identify essential activities.