Dynamic Strengths And Weaknesses

In their seminal article, Teece et al. (1997: 530) acknowledged that “there could hardly be a more ambitious research agenda in the social sciences today” than the one encapsulated within the dynamic capabilities approach. We are going to cover one of the very sensitive issues in business management. Dynamic capabilities theory was made to complete the view that is based on a resource , so it came out from a fundamental weakness of the view of the firm that includes assets, abilities , organizational procedures , the attributes of the firm, the information , and the available knowledge. First of all let's try to define what is meant by dynamic capabilities, Teece defined it as firm's ability to integrate, build, and recon internal

The interaction of dynamic capabilities, innovation and strategy making is the main basis upon which a certain type of business can be carried out successfully in the competitive business environment . There is a study made by Lidija B., et al ( 2014 ) in which they assured that there is a link between dynamic capability and innovation capability and the study showed also the ways they can be connected . They compared dynamic capabilities with innovation capabilities; one of the areas of business economics that has helped firms operate successfully in the dynamic environment of nowadays is strategic management. " Innovations in work practices (commonly termed ‘high performance’, ‘high commitment’ or ‘high involvement’ practices) are an important source of these internal capabilities but research evidence shows low levels of penetration." (Thompson, M. 2007 ) There is a link between innovation and dynamic capabilities as it allows the renewal of a firm's resources, so it can be considered as the outcome of innovation capability .The fact is that dynamic capabilities reflect the ability of the organizationto achieve new and advanced forms of competitive advantage. But Innovation is not the same as capabilities. Schumpeter stated in his book "Capitalism, Socialism and Democracy" that the ability of a company to innovate was mainly connected to its size

There are so many industrial innovations that improved on different phases , an old pattern is like the electrical light lamb that passed so many steps to development nowadays , also a pattern of a new company could be Apple company that has proved to be a paradigmatic practitioner of dynamic capabilities as it has created and transformed a series of markets. As its major product introductions reflected different aspects of the major categories of dynamic capabilities and so many others companied did the