Building Dynamic Capabilities in Rapid Innovation-based Industries
Edited by Stuart Wall, Carsten Zimmermann, Ronald Klingebiel and Dieter Lange
Stuart Wall, Carsten Zimmermann, Ronald Klingebiel and Dieter Lange The chapters in this book seek to meet a major challenge: namely to combine the theory and practice of organisational resource reconfigurations in order to ground the dynamic capabilities view more firmly in managerial reality. Although the processes of change have been observed by academics and practitioners alike, there is no unanimity of view as to the definitions and interpretations that can be legitimately applied to these observations. The impact and development of resource routines that may sustain superior enterprise performance has fascinated researchers investigating phenomena from a diverse range of backgrounds, including entrepreneurship, organisational behaviour, innovation and operations research. Within the field of strategic management, capabilities have been the centre of attention over the past 20 years for those seeking to understand the foundation of business survival, growth and performance. The dynamic capabilities view, like the resource-based view (RBV), seeks to identify and categorize the prerequisites for preserving a sustainable competitive advantage within global markets. Following Peteraf (1993), such conditions may include imperfect mobility, ex ante and ex post limits to competition as well as resource heterogeneity. The underlying assumption in this respect is that firm-specific knowledge becomes central once strategic decision making for resource utilization, diversification or restructuring is required. Such knowledge is often viewed as being to a large degree ‘sticky’, since it incorporates tacit processes and learning routines. In this respect a variety of resource-based theorists have highlighted the contributions of Edith Penrose (1959) as regards the...