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Every well-managed company ought to have well outlined roles and list of competencies needed to perform every role effectively for all jobs. A high intellectual capital lends competitive advantage to a company. With a world enlargement in market competence mapping and development of competencies of upper level managers like department heads and executives is vital and is a necessary exercise. Each well managed firm ought to have well outlined roles and list of competencies needed to perform every role effectively. Such list ought to be used for social control functions like coming up with, communication skills, interpersonal skills, technical knowledge, intra-personal relationship, innovative thinking, leadership and decision.