Question: Why are dynamic capabilities important?

Dynamic capabilities are the specific capabilities that enable firms to adapt to rapidly changing environments and hold on to their competitive advantage. They are absolutely critical to a firms long-term success.

How can dynamic capabilities benefit firms?

Teece suggests that dynamic capabilities represent “the firms ability to integrate, build, and reconfigure internal and external competencies to address rapidly changing environements.” They reconcile the contradictory ideas that a firm can be stable enough to deliver distinctive, original value and adaptive enough to ...

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