Technology innovations have been accelerating changes across industries and intensifying competition. Enterprises are therefore required to continuously secure their internal and external competitiveness. Based on the principle that core competencies of a firm are essential to its competitiveness, many research studies have been conducted to figure out the effect of core competencies to business performance. However, individual research works considered a part of core competencies or limited to a specific industry, which means that their findings may differ when additional core competencies are included in their analysis. After re-establishing the definition of each core competency from literature review, this study comprehensively investigated the effect relationship among core competencies and business performance. Structural equation modeling and multiple regression analysis with 421 survey respondents from various industries were conducted for our empirical study.