DYNAMIC CAPABILITIES AND STRATEGIC MANAGEMENT
2008; World Scientific; Linguagem: Inglês
10.1142/9789812834478_0002
AutoresDAVID J TEECE, GARY PISANO, AMY SHUEN,
ResumoTechnological Know-How, Organizational Capabilities, and Strategic Management, pp. 27-51 (2008) No AccessDYNAMIC CAPABILITIES AND STRATEGIC MANAGEMENTDAVID J TEECE, GARY PISANO, and AMY SHUENDAVID J TEECEHaas School of Business, University of California, Berkeley, California, U.S.A.Correspondence to: David J. Teece, Institute of Management, Innovation and Organization, Haas School of Business, University of California, Berkeley, CA 94720-1930, U.S.A., GARY PISANOGraduate School of Business Administration, Harvard University, Boston, Massachusetts, U.S.A, and AMY SHUENSchool of Business, San Jose State University, San Jose, California, U.S.A.https://doi.org/10.1142/9789812834478_0002Cited by:30 (Source: Crossref) PreviousNext AboutSectionsPDF/EPUB ToolsAdd to favoritesDownload CitationsTrack CitationsRecommend to Library ShareShare onFacebookTwitterLinked InRedditEmail Abstract: The dynamic capabilities framework analyzes the sources and methods of wealth creation and capture by private enterprise firms operating in environments of rapid technological change. The competitive advantage of firms is seen as resting on distinctive processes (ways of coordinating and combining), shaped by the firm's (specific) asset positions (such as the firm's portfolio of difficult-to-trade knowledge assets and complementary assets), and the evolution path(s) it has adopted or inherited. The importance of path dependencies is amplified where conditions of increasing returns exist. Whether and how a firm's competitive advantage is eroded depends on the stability of market demand, and the ease of replicability (expanding internally) and imitatability (replication by competitors). If correct, the framework suggests that private wealth creation in regimes of rapid technological change depends in large measure on honing internal technological, organizational, and managerial processes inside the firm. In short, identifying new opportunities and organizing effectively and efficiently to embrace them are generally more fundamental to private wealth creation than is strategizing, if by strategizing one means engaging in business conduct that keeps competitors off balance, raises rival's costs, and excludes new entrants. 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