Entrepreneurship and Dynamic Capabilities: A Review, Model and Research Agenda
TLDR
In this paper, a definition of dynamic capabilities, separating them from substantive capabilities as well as from their antecedents and consequences, is proposed, and a set of propositions that outline how substantive capabilities and dynamic capabilities are related to one another, how this relationship is moderated by organizational knowledge and skills, and how organizational age affects the speed of utilization of dynamic capability and the learning mode used in organizational change.Abstract:
The emergent literature on dynamic capabilities and their role in value creation is riddled with inconsistencies, overlapping definitions, and outright contradictions. Yet, the theoretical and practical importance of developing and applying dynamic capabilities to sustain a firm's competitive advantage in complex and volatile external environments has catapulted this issue to the forefront of the research agendas of many scholars. In this paper, we offer a definition of dynamic capabilities, separating them from substantive capabilities as well as from their antecedents and consequences. We also present a set of propositions that outline (1) how substantive capabilities and dynamic capabilities are related to one another, (2) how this relationship is moderated by organizational knowledge and skills, (3) how organizational age affects the speed of utilization of dynamic capabilities and the learning mode used in organizational change, and (4) how organizational knowledge and market dynamism affect the likely value of dynamic capabilities. Our discussion and model help to delineate key differences in the dynamic capabilities that new ventures and established companies have, revealing a key source of strategic heterogeneity between these firms.read more
Citations
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Dynamic Capabilities: A Review of Past Research and an Agenda for the Future
TL;DR: The dynamic capabilities view, by addressing the question of how firms can cope with changing environments, has gained increasing attention in the management literature in recent years, not only in the concept's original domain (strategic management) but also in many other areas within business administration as mentioned in this paper.
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What are dynamic capabilities and are they a useful construct in strategic management
Véronique Ambrosini,Cliff Bowman +1 more
TL;DR: This synthesis first highlights, that dynamic capabilities are shaped by enabling and inhibiting variables within and outside the firm, including the perceptions and motivations of managers; secondly, it identifies processes that create dynamic capabilities; and thirdly, it explains thatynamic capabilities do not automatically lead to performance improvements.
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A Capability‐Based Framework for Open Innovation: Complementing Absorptive Capacity
TL;DR: In this article, the authors merge knowledge management, absorptive capacity, and dynamic capabilities to arrive at an integrative perspective, which considers knowledge exploration, retention, and exploitation inside and outside a firm's boundaries.
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Entrepreneurial Orientation Theory and Research: Reflections on a Needed Construct:
Jeffrey G. Covin,G. T. Lumpkin +1 more
TL;DR: The Special Issue of Entrepreneurship Theory and Practice on the topic of Entrepreneurial Orientation (EO) as mentioned in this paper was the first special issue dedicated to entrepreneurship theory and practice.
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Building dynamic capabilities for digital transformation: An ongoing process of strategic renewal
TL;DR: It is revealed that digital transformation is an ongoing process of using new digital technologies in everyday organizational life, which recognizes agility as the core mechanism for the strategic renewal of an organization's business model, collaborative approach, and eventually the culture.
References
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Absorptive capacity: a new perspective on learning and innovation
TL;DR: In this paper, the authors argue that the ability of a firm to recognize the value of new, external information, assimilate it, and apply it to commercial ends is critical to its innovative capabilities.
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Dynamic capabilities and strategic management
TL;DR: The dynamic capabilities framework as mentioned in this paper analyzes the sources and methods of wealth creation and capture by private enterprise firms operating in environments of rapid technological change, and suggests that private wealth creation in regimes of rapid technology change depends in large measure on honing intemal technological, organizational, and managerial processes inside the firm.
Posted Content
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TL;DR: In this paper, the authors developed an evolutionary theory of the capabilities and behavior of business firms operating in a market environment, including both general discussion and the manipulation of specific simulation models consistent with that theory.
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