ABSTRACT
In Dynamic Capabilities and Strategic Management, David J. Teece sets out a number of interesting subordinate ideas, which aim to extend and support his theorization of the dynamic capability framework. First, he places special attention on the role of managers in the dynamic capability process. Teece shares a number of subordinate ideas related to the role of business enterprise, its capabilities and its role in economic growth. He stresses that firms build capabilities by learning, by doing, and industrial research. Teece emphasizes the importance of focusing on micro factors such as continuous technological innovation for evaluating company and national competitiveness. He discusses the importance of firm networks in understanding sources of wealth and business enterprise competitiveness. According to Teece, economic theory pays little attention to the practices of executive managers and their economic functions. With secondary ideas, Teece moves on to stress the importance of their strategic functions.
