Dynamic capabilities "The dynamic capabilities framework recognizes that risk and uncertainty are
qualitatively different. Agility is needed to manage the latter, but not necessarily the
former. Moreover, the underpinnings of agility rely mainly on two interdependent
elements of the dynamically capable firm: entrepreneurial management capable of
combining and recombining technologies, and flexible structures that can be rapidly
modified." Dynamic Capabilities and
Organizational Agility:
RISK, UNCERTAINTY, AND STRATEGY
IN THE INNOVATION ECONOMY; Teece, D.; Peteraf, M.; Leih, S.
Dynamic capabilities are the ability to reconfigure, redirect, transform and appropriately shape and integrate existing core competencies with external resources and strategis and complementary assets to meet the challenges of a time-pressured, rapidly changing world of competition and imitation (Teece et al., 2000; Teece, 2014). |