DYNAMIC CAPABILITIES AND STRATEGIC MANAGEMENT

@article{Teece1997DYNAMICCA,
  title={DYNAMIC CAPABILITIES AND STRATEGIC MANAGEMENT},
  author={David J. Teece and Gary P. Pisano and Amy Shuen},
  journal={Strategic Management Journal},
  year={1997},
  volume={18},
  pages={509-533}
}
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… 

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