Knowledge-Intensive Entrepreneurship in Low-Tech Industries

Knowledge-Intensive Entrepreneurship in Low-Tech Industries

Edited by Hartmut Hirsch-Kreinsen and Isabel Schwinge

This book contributes to the discussion about the relevance of knowledge-intensive entrepreneurship for industrial innovation in the context of traditional low-technology industries.

Chapter 7: The relevance of the 'dynamic capabilities' perspective in low-tech sectors

Aimilia Protogerou, Yannis D. Caloghirou and Glykeria Karagouni

Subjects: economics and finance, economics of entrepreneurship, economics of innovation, industrial economics, innovation and technology, economics of innovation

Extract

Dynamic capabilities (DCs) and their role in firm strategy, value creation and competitive advantage have attracted a great deal of attention among scholars in recent years (e.g. Teece et al., 1997; Eisenhardt and Martin, 2000; Winter, 2003; Teece, 2007; Helfat et al., 2007). In their landmark article Teece et al. (1997) argue that dynamic capabilities enable organizations to integrate, build and reconfigure their resources and competencies and, therefore, maintain performance in the face of changing business environments. The notion of DCs was subsequently refined and expanded (e.g. Eisenhardt and Martin, 2000; Zollo and Winter, 2002; Teece, 2007; Helfat et al., 2007, among others) and was also related to the concept of entrepreneurship (e.g. Zahra et al., 2006; Boccardelli and Magnusson, 2006; Teece, 2010), entrepreneurial management (e.g. Augier and Teece, 2009) and knowledge management (e.g. Easterby-Smith and Prieto, 2008). Yet, despite the increasing research interest, there is limited empirical and theoretical work on dynamic capabilities and their role in knowledge-intensive entrepreneurship (KIE) (Protogerou and Karagouni, 2012). Therefore, several questions-related to DCs' conceptualization and role-still remain open. There is significant variation in the literature regarding the kind of external business environments that are relevant to dynamic capabilities: researchers have not yet reached a consensus on the role and usefulness of DCs in environments of varying degrees of dynamism (Zahra et al., 2006; Barreto, 2010).

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information