ABSTRACT
David J. Teece's framework is of questionable value in the study of hyper-turbulent markets and environments, such as the global financial crisis of 2008. The framework has been seen as a relevant analytical tool across disciplines such as technology management, entrepreneurship, and marketing studies. In contrast to the effect of temporal and social considerations, cultural variation seems to have little impact on the applicability and universality of Teece's dynamic capability view. In contrast to other works in strategy and economics, which explore the concept of sustainable performance by focusing on only one aspect of a firm's management, Teece's idea of dynamic capabilities integrates elements of different modern management theories. Teece's work can be regarded as highly influential outside his main field of strategy and economics. One of Teece's objectives as set out in his work is for the dynamic capabilities framework to serve as a useful tool for both practitioners and academics from various fields.
