Overview

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 only adapt to business ecosystems; they also shape them through innovation, collaboration, learning, and involvement. This book is the clearest and most succinct statement of the core ideas of dynamic capabilities. David Teece, the pioneer of the dynamic capabilities perspective, explains their genesis, application, and how they offer an alternative approach to much conventional strategic thinking grounded in simplistic and outdated understandings of industrial organizations and the foundations of competitive advantage.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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9781665122948

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Christopher Grove is an actor, writer, and audiobook narrator. His narrations include Eye of the Storm, The Quantum Enigma, and the Right Kind of Crazy. David J. Teece is an economist and an authority on matters of industrial organization, technological change, and innovation, particularly as it relates to antitrust and competition policy and intellectual property. He is the Thomas W. Tusher Professor in Global Business at the Haas School of Business at the University of California, Berkeley, and a member of the board of overseers for the faculty of arts and sciences at the University of Pennsylvania.

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