The document provides an overview of competency modeling, including: 1. A brief history of competency modeling from its origins in the 1950s to its maturation and widespread adoption by Fortune 500 companies today. 2. Definitions of key terms like competency, competence, and components of competency. 3. Examples of competency models and frameworks, and how they are used for various human resource functions. 4. The benefits of implementing competency-based approaches for individuals, companies, and managers. 3. How competency modeling is linked to focused training and development by identifying competency gaps to address.