ABSTRACT
Being fundamentally rooted in Schumpeterian competition and the resource-based view of the firm, the concept of dynamic capabilities seeks to shed light on the ways that firms deal with fast environmental change. The dynamic capabilities view emphasizes the ability of firms to orchestrate assets and create new capabilities, thus shaping firms’ innovativeness. Dynamic capabilities range from abstract higher-order capabilities to concrete, tangible activities and processes like partnering that aim at altering the resources of a firm. Hence, dynamic capabilities encompass the full range of technological, organizational, business models and open innovations that help firms address and co-create rapidly changing environments. This chapter provides guidance for each of the four areas including their intersections and seeks to provide some ideas for future research.
