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Dynamic capabilities: what are they?

2000; Wiley; Volume: 21; Issue: 10-11 Linguagem: Inglês

10.1002/1097-0266(200010/11)21

1097-0266

Kathleen M. Eisenhardt, Jeffrey A. Martin,

Business Strategy and Innovation

Strategic Management JournalVolume 21, Issue 10-11 p. 1105-1121 Research ArticleFree Access Dynamic capabilities: what are they? Kathleen M. Eisenhardt, Corresponding Author Kathleen M. Eisenhardt Department of Management Science and Engineering, Stanford University, Stanford, California, U.S.A.Department of Management Science and Engineering, Stanford University, 309 Terman, Stanford, CA 94305, U.S.A.Search for more papers by this authorJeffrey A. Martin, Jeffrey A. Martin Department of Management Science and Engineering, Stanford University, Stanford, California, U.S.A.Search for more papers by this author Kathleen M. Eisenhardt, Corresponding Author Kathleen M. Eisenhardt Department of Management Science and Engineering, Stanford University, Stanford, California, U.S.A.Department of Management Science and Engineering, Stanford University, 309 Terman, Stanford, CA 94305, U.S.A.Search for more papers by this authorJeffrey A. Martin, Jeffrey A. Martin Department of Management Science and Engineering, Stanford University, Stanford, California, U.S.A.Search for more papers by this author First published: 18 October 2000 https://doi.org/10.1002/1097-0266(200010/11)21:10/11 3.0.CO;2-ECitations: 6,807AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Abstract This paper focuses on dynamic capabilities and, more generally, the resource-based view of the firm. We argue that dynamic capabilities are a set of specific and identifiable processes such as product development, strategic decision making, and alliancing. They are neither vague nor tautological. Although dynamic capabilities are idiosyncratic in their details and path dependent in their emergence, they have significant commonalities across firms (popularly termed ‘best practice’). This suggests that they are more homogeneous, fungible, equifinal, and substitutable than is usually assumed. In moderately dynamic markets, dynamic capabilities resemble the traditional conception of routines. They are detailed, analytic, stable processes with predictable outcomes. In contrast, in high-velocity markets, they are simple, highly experiential and fragile processes with unpredictable outcomes. Finally, well-known learning mechanisms guide the evolution of dynamic capabilities. In moderately dynamic markets, the evolutionary emphasis is on variation. In high-velocity markets, it is on selection. 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