Dynamic Capabilities and Strategic Management: Organizing for Innovation and Growth

Paperback | October 14, 2011

byDavid J. Teece

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and how they offer an alternative approach to much conventional strategic thinking grounded in simplistic and outdated understandings of industrialorganizations and the foundations of competitive advantage.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

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From the Publisher

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...

David J. Teece is Chaired Professor at the Haas Business School at the University of California at Berkeley.

other books by David J. Teece

Format:PaperbackDimensions:304 pagesPublished:October 14, 2011Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199691908

ISBN - 13:9780199691906

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Table of Contents

PrefacePart I: Dynamic Capabilities1. The Nature and Microfoundations of (Sustainable) Enterprise Performance2. The (Entrepreneurial) Function of the Manager in a Developed Market Economy3. The Foundations of Dynamic Capabilities4. Resources, Capabilities, and Penrose Effects5. Dynamic Capabilities and the Essence of Multinational EnterprisePart II: The Business Enterprise in Economic Development6. The Role of Management, Enterprise, and Technology in the Wealth of Nations7. Managers, Entrepreneurs and the Literati in Economic DevelopmentPart III: Competition Policy8. The Nature of Competition in Regimes of Rapid Technological Change

Editorial Reviews

"Teece's authoritative work on dynamic capabilities has important implications for strategic management, as well as for organization studies, economics, innovation policy, and antitrust law. Scholars and practitioners in a broad range of areas will find this book to be an invaluable referenceand source of new ideas." --Constance E. Helfat, J. Brian Quinn Professor in Technology and Strategy, Tuck School of Business at Dartmouth