Questions and Answers
Dynamic capabilities involve considering changes in which of the following?
Environment, technology, and market conditions
In the context of the resource-based perspective, what does strategic management emphasize?
Key resources and core competencies
What does the text suggest is necessary for a firm's opportunities to be significantly enhanced?
Technology, market opportunity, and organizational skills
What can technology alone not deliver?
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What does the text suggest is a significant shift within the resource-based perspective?
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Study Notes
Dynamic Capabilities
- Dynamic capabilities involve considering changes in the external environment, a firm's resources, and its capabilities.
Resource-Based Perspective
- Strategic management emphasizes the role of a firm's internal resources and capabilities in determining its competitiveness and performance.
Enhancing Opportunities
- A firm's opportunities can be significantly enhanced by reconfiguring and redeploying its existing resources and capabilities.
Limitations of Technology
- Technology alone cannot deliver sustainable competitive advantage or strategic renewal.
Shift in Resource-Based Perspective
- There is a significant shift within the resource-based perspective, from a focus on the possession of resources to a focus on the dynamic capabilities that enable a firm to adapt and innovate in response to changing market conditions.
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