Dynamic capabilities theory is an extension of the resource-based view, developed principally by David Teece, Gary Pisano, and Amy Shuen in a widely cited 1997 paper, that focuses on a firm's capacity to integrate, build, and reconfigure its internal and external resources and competencies in response to rapidly changing business environments. Where the resource-based view emphasizes the value of a firm's existing resource base, dynamic capabilities theory emphasizes the processes by which firms sense opportunities and threats, seize them, and transform their resource base over time. The concept is widely used in strategic management to explain how some firms sustain competitive advantage under conditions of rapid technological or market change while others do not.
Reader Challenges (0 open reader challenges)
No disputes yet. Spotted an error or a better source? Open the first one.
Sign in to dispute this or suggest a correction.
View At A Past Year
The atlas records no dated fact of its own for this entry, so there is no other year to choose.