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Dynamic capabilities: Definitions and functions.

Dynamic capabilities: Definitions and functions.

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There continues to be much interest in the business and academic communities in the concept of strategic competencies or core capabilities, in other words, how organisations define and differentiate themselves. More recently, this field has fragmented into a number of related disciplines with subtle differences in focus: •Knowledge management — how...

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... being one of the most widely used and cited concepts, the central construct of dynamic capabilities is not well or universally defined. Teece et al.'s original definition as "the firm's ability to integrate, build, and reconfigure internal and external competencies to address rapidly changing environments" is rather broad and difficult to operationalize, so many authors have since offered their own definitions of dynamic capabilities (Table 1). ...

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... Such studies highlight that interaction between internal and external knowledge is closely associated with the dynamic capabilities of an organization, and its ability to accumulate and renew knowledge over time (Tidd, 2012). Therefore, the simple dichotomy between open and closed approaches is unhelpful and not realistic (Tidd, 2013). ...
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