Dynamic Capabilities and Strategic Management: Organizing for Innovation and Growth

by David J. Teece

Overview

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and how they offer an alternative approach to much conventional strategic thinking grounded in simplistic and outdated understandings of industrial organizations and the foundations of competitive advantage.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.

Product Details

ISBN-13:	9780199545124
Publisher:	Oxford University Press
Publication date:	06/01/2009
Pages:	302
Product dimensions:	5.70(w) x 8.60(h) x 1.00(d)

About the Author

David J. Teece is Chaired Professor of Haas Business School at the University of California, Berkeley. He has been included on the "A-List of Management Academics 2011" by Business Educators, an orgazination which seeks to facilitate collaborations between business academics and professionals.

Table of Contents

List of Figures and Tables xiii

Part I Dynamic Capabilities

1 The Nature and Microfoundations of (Sustainable) Enterprise Performance 3

2 The (Entrepreneurial) Function of the Manager in a Developed Market Economy 65

3 The Foundations of Dynamic Capabilities (with Mie Augier) 82

4 Resources, Capabilities, and Penrose Effects (with Mie Augier) 113

5 Dynamic Capabilities and the Essence of the Multinational Enterprise 136

Part II The Business Enterprise in Economic Development

6 The Role of Management, Enterprise, and Technology in the Wealth of Nations 185

7 Managers, Entrepreneurs, and the Literati in Economic Development 198

Part III Competition Policy

8 The Nature of Competition in Regimes of Rapid Technological Change 233

References 261

Index 279

Editorial Reviews

"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, University of Oxford, and author of The Truth about Markets

From the Publisher