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Dynamic Capabilities and Strategic Management: Organizing for Innovation and Growth [Kindle Edition]

David J. Teece
4.3 out of 5 stars  See all reviews (3 customer reviews)

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Book Description

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.

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and how they offer an alternative approach to much conventional strategic thinking grounded in simplistic and outdated understandings of industrial organizations and the foundations of competitive advantage.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


Editorial Reviews

Review

"... one of the most accomplished academics in the field of strategic management... Dynamic Capabilities and Strategic Management is a succinct statement of what has come to be the prevailing academic school of thought in the field of strategy." - Phil Rosenzweig, Strategy + Business 57, Winter 2009

Review


"David Teece's concept of dynamic capabilities integrates the resource-based theory of the firm with an evolutionary view of economic processes. This important book combines
theoretical insight with practical advice for both managers and policy makers."--John Kay, Fellow of St John's College, University of Oxford, and author of The Truth about Markets



Product Details

  • File Size: 666 KB
  • Print Length: 316 pages
  • Page Numbers Source ISBN: 019954512X
  • Publisher: OUP Oxford (March 26, 2009)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • ASIN: B005WSNRLY
  • Text-to-Speech: Enabled
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  • Lending: Enabled
  • Amazon Best Sellers Rank: #406,424 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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7 of 7 people found the following review helpful
Format:Hardcover
In Dynamic Capabilities author David Teece (with contributions from Mie Augier) successfully brings the study of the firm into the modern era. Drawing extensively on older theories to describe and analyze business economics, Teece explains why these theories are not able to explain fully how businesses succeed or fail in a time of rapid technological innovation, knowledge-based industries, changing customer demands and multinational competition. The author is both descriptive and prescriptive as he outlines how entrepreneurial management is the key to achieving an adequate return - management that is able to sense changes in the economic environment, seize the opportunities those changes present, and, by orchestrating the tangible and especially intangible assets available both inside and outside the firm, exploit market opportunities. Teece ably explains why a business that merely responds to the current market, even if it does so superbly, will ultimately fail unless it is capable of change. Thus the dynamic capabilities of management and business structures responsive to change become the chief determinants of which businesses will succeed and grow and which will not.

Though academic in style, and a useful text for the student of business economics, the book is written to be accessible to practitioners of management as well. The businessman whose MBA certificate is yellowing in its frame will have no trouble understanding it. Indeed, it should be must reading for anyone running, investing in or serving as a director of any business, large or small. Firms which lack such dynamic capabilities will survive only if they develop or acquire them.
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2 of 2 people found the following review helpful
Format:Hardcover
David J. Teece is a Chaired Professor at the University of California Berkeley, where he was the Director of the Institute of Management, Innovation and Organization. He is the author and co-author of numerous articles and books. Teece is supported by Stanford University Fellow Mie Augier. This book was published in 2009, is split into 3 parts, consisting of 1-to-5 chapters, plus a preface.

Teece explains in the preface that "Strategic management is about the major decisions and investments needed to achieve the goals of the enterprises ...". He continues in Chapter 1 that the ambition of the dynamic capabilities framework is nothing less than to explain the sources of enterprise-level competitive advantage over time. "... dynamic capabilities can be disaggregated into the capacity (1) to sense and shape opportunities and threats, (2) to seize opportunities, and (3) to maintain competitiveness through enhancing, combining, protecting, and when, necessary, reconfiguring the business enterprise's intangible and tangible assets." Each of these are discussed in detail together with the microfoundations, such as the distinct skills, processes, procedures, organizational structures, decision rules, and disciplines, undergirding them. The other 4 chapters within Part 1 focus on further exploration of dynamic capabilities, from the (entrepreneurial) role of the manager, via the foundations and resources through to the impact on the multinational enterprise. The other 2 parts takes a high-level view of the business enterprise in the economy with Part II looking at the business enterprise in economic development and Part III focusing on the nature of competition during rapid technological change.

Yes, I do like this book.
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Format:Kindle Edition|Verified Purchase
I'd recommend this book together with the Helfat's et al for academic people who want to understand the nature of dynamic capabilities. Personally I'll use this text as a reference for dissertation. And although I consider this book more suitable for academic research I picked one very applicable point for business life as well: the success for M&A is higher in case both parties see this as an opportunity to learn smth from the other.
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More About the Author

Dr. 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. Dr. Teece has a Ph.D. in economics from the University of Pennsylvania and has held teaching and research positions at Stanford University and Oxford University. He has received four honorary doctorates.

Dr. Teece has over 30 years of experience as an active consultant performing economic, business, and financial consulting services to businesses and governments around the world. He has worked on matters in industries ranging from music recording to DRAMS, software, lumber, and petroleum, and has testified in both federal and state court, before Congress, and before the Federal Trade Commission, as well as in several international jurisdictions. He is the author of more than 200 books and articles, and is the co-editor of Industrial & Corporate Change (Oxford University Press).

According to Science Watch (November/December 2005), he is the lead author on the most cited article in economics and business worldwide from 1995 to 2005. He is also one of the top-10 cited scholars for the decade and has been recognized by Accenture as one of the world's top-50 business intellectuals. In addition, he is among the "A-List of Management Academics 2011," an honorary group of 30 accomplished and distinguished U.S. business professors.

Dr. Teece co-founded Berkeley Research Group, LLC in 2010 and serves as chairman and principal executive officer. He was chairman and co-founder of LECG (1988-2007) and vice-chairman from 2007 to 2009.

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