Book cover for Dynamic Capabilities and Strategic Management by David J Teece

Dynamic Capabilities and Strategic Management

2011 Released
320 Pages
5-7 Hours
Ebook Unavailable
Audiobook Unavailable
Oxford University Press, USAISBN 9780199691906
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and how they offer an alternative approach to much conventional strategic thinking grounded in simplistic and outdated understandings of industrial organizations and the foundations of competitive advantage.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.

David J Teece

David J. Teece is an economist and an authority on matters of industrial organization, technological change, and innovation, particularly as it relates to antitrust and competition policy and intellectual property. Teece has a PhD in economics from the University of Pennsylvania and has held teaching and research positions at Stanford University and Oxford University. He has received eight honorary doctorates. Teece has over 30 years of experience as an active consultant performing economic, business, and financial consulting services to businesses and governments around the world. He has worked on matters in industries ranging from music recording to DRAMS, software, lumber, and petroleum, and has testified in both federal and state court, before Congress, and before the Federal Trade Commission, as well as in several international jurisdictions.
Expertise and Research Interests are Competitive Performance of Firms in the Global Marketplace, Intellectual Capital Management, Innovation, Intellectual Property, Antitrust Policy, Technology and Intellectual Property, Strategy Management, Corporate Governance, Product and Process Development, Human Capital and Dynamic Capabilities.

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