ABSTRACT
In developing dynamic capabilities theory, David J. Teece sought to explain how companies sustain competitive advantages over time, and how they adapt to organizational change processes such as technological innovations. Teece's framework goes beyond traditional thinking in its analysis of companies' competitive advantages: it not only explains the processes and patterns necessary for strong positioning in the marketplace, but also explores companies' decision-making processes. In the strategic management field, there are a number of models, developed to explain how a firm can develop competitive advantage. Instead of simply focusing on analyzing the resources through the dynamic capability view, Teece directs scholarly and managerial attention towards the decision-making and learning processes, which support the development of core competences and organizational capabilities. Teece's ideas and academic contributions are believed to be more interdisciplinary in comparison with those of fellow scholars. His contributions build on ideas from transaction cost theory, evolutionary economics, covering different levels of the organization.
