How do firms compete? How do firms earn above normal returns? What's needed to sustain superior performance long term? An increasingly powerful answer to these fundamental questions of business strategy lies in the concept of dynamic capabilities. These are the skills, processes, routines, organizational structures, and disciplines that enable firms to build, employ, and orchestrate intangible assets relevant to satisfying customer needs, and which cannot be readily
replicated by competitors. Enterprises with strong dynamic capabilities are intensely entrepreneurial. They not only adapt to business ecosystems; they also shape them through innovation, collaboration, learning, and involvement.
David Teece was the pioneer of the dynamic capabilities perspective. It is grounded in 25 years of his research, teaching, and consultancy. His ideas have been influential in business strategy, management, and economics, and are relevant to innovation, technology management, and competition policy.
Through his consultancy and advisory work he has also brought these ideas to bear in business and policy making around the world.
This book is the clearest and most succinct statement of the core ideas of dynamic capabilities. Teece explains their genesis, application, and how they offer an alternative approach to much conventional strategic thinking grounded in simplistic and outdated understandings of industrial organizations and the foundations of competitive advantage. Accessibly written and presented, it will be an invaluable and stimulating tool for all those who want to understand this important contribution to
strategic thinking, be they MBA students, academics, managers, or consultants.
Publisher: Oxford University Press
Number of pages: 320
Weight: 388 g
Dimensions: 209 x 127 x 19 mm
David Teece's concept of dynamic capabilities integrates the resource-based theory of the firm with an evolutionary view of economic processes. This important book combines theoretical insight with practical advice for both managers and policy makers. * John Kay, Fellow of St John's College, Oxford, Financial Times columnist, and author of The Truth about Markets *
Teece's authoritative work on dynamic capabilities has important implications for strategic management, as well as for organization studies, economics, innovation policy, and antitrust law. Scholars and practitioners in a broad range of areas will find this book to be an invaluable reference and source of new ideas. * Constance E. Helfat, J. Brian Quinn Professor in Technology and Strategy, Tuck School of Business at Dartmouth *