Building Dynamic Capabilities in Rapid Innovation-based Industries
Edited by Stuart Wall, Carsten Zimmermann, Ronald Klingebiel and Dieter Lange
David Teece More than a decade ago, Jay Barney, Kathleen Eisenhardt, Sydney Winter, myself, and others started to draft a framework that derives the internal essentials of an enterprise as the basis for competitive advantage. I am delighted to introduce a substantial piece of work aimed at the quest of integrating this framework with other theories, as well as reconfiguring it towards an applicable utilization. This includes furthering the dynamic capabilities theory to secure DCV-inspired management tools a permanent place in the practical world. But how do the editorial quadriga of Dieter Lange, Carsten Zimmermann, Ronald Klingebiel and Stuart Wall and their contributing authors go about tackling this mammoth task? How does it differ from books such as those written by Teece (2002), Helfat (2003), or Amin and Cohendet (2004)? What first strikes the eye is the book’s uncompromising way of working at the central issues of DCV. In the first part of this book, the authors try to extrapolate the usefulness of the concept for managerial application in virtually all organisational situations, before moving to specific areas. In that respect, it parts with Teece (2002) and Amin and Cohendet (2004), who focussed on the management of intellectual capital in knowledgeintensive firms. Organisational heterogeneity that drives the sensing, seizing of opportunity and the timely reconfiguration of internal capabilities mirrors the managerial reality in successful companies that could lead to competitive advantage in a wider field of companies than previously advocated. Because the study of dynamic capabilities has quickly dispersed into...