Handbook on Dynamic Capability
(Sprache: Englisch)
In this book, the concepts of innovation and dynamic capabilities are thoroughly studied and evolved into a new conceptualization for integration. Since the nature of business organizations is to strive for achievement of competitive advantage relentlessly,...
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In this book, the concepts of innovation and dynamic capabilities are thoroughly studied and evolved into a new conceptualization for integration. Since the nature of business organizations is to strive for achievement of competitive advantage relentlessly, it is imperative for business organizations to develop suitable capabilities and, thus, leverage them to gain an advantageous edge in the business environment. The dynamic capabilities that are built and deployed by firms to cope with changing business conditions help the firms to adapt to the demand of the situation through resource mobilization and effective management. Dynamic capabilities usually appear in varied breadth and span and culminate into hierarchical stages. The current century business slogan "Innovation" is adapted and considered by every business firm. Development and maintenance of innovation is being perceived as a critical organizational function by managers. It is unanimously agreed upon by senior managers that there is a need for the building of organizational capabilities to promote innovation for a competitive advantage and to get the most benefit from such innovations in changing scenarios. This requires the integration of dynamic capabilities and innovation management disciplines for building innovation management capabilities in organizations.
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Text Sample:Chapter 3: Classification of Dynamic Capabilities:
Wang and Ahmed (2007) identified three higher-order dynamic capabilities, namely absorptive capability, adaptive capability and innovation management capability as the core components of dynamic capability of the firm. Parida et al. (2009) suggested that networking capability could be a part of higher-order dynamic capability constructs. Two other higher-order capabilities: sensing and integrative capabilities were found in the literature (Jusoh & Parnell, 2008; Morgan et al., 2009). In their attempt to review the dynamic capabilities' literature, Eisenhardt (2000) identified seven major component dynamic capabilities, namely product development capabilities, replication capabilities, resource allocation capabilities, coevolving capabilities, knowledge generation capabilities, alliance and acquisition capabilities and exit and jettison capabilities. Many researchers developed constructs to explore six major dynamic capabilities such as sensing, absorptive, adaptive, innovative, networking and integrative capabilities.
Isabel Prieto et al. (2009) measured dynamic capabilities as a "multi-dimensional construct" that built on the processes and knowledge associated in the product development. He et al. (2006) proposed six first-order dynamic capabilities viz. "customers value creation, technology system, structure system, institutional system, isolation mechanism and drive for change." A number of authors have discussed operations capabilities, technological capabilities and marketing capabilities as key factors for achieving superior innovative performance (Dutta et al., 1999; Kotabe et al., 2002; Krasnikov & Jayachandran, 2008; Wu, 2013; Zhou and Wu, 2010).
The firm capabilities that founded the dynamic capability vary from one industry to another and one firm to anointer based on the firms' resource base. The higher-order dynamic capabilities of the firm majorly build upon firms' capabilities
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like R&D capability, production capability, marketing capability, etc. The following part of the section discusses innovation management capability of the tissue culture production firms in competitive market conditions.
3.1 Marketing Capability:
Marketing capability indicates the firms' capacity to popularise and market the products with clear understanding on present and future needs of the consumers, approaches to consumer interactions, knowledge on competitors' strategies and approaches. Marketing capabilities are defined as "the integrative processes designed to apply collective knowledge, skills and resources of the firm to market-related needs of the business, enabling the business to add value to ist goods and services, adapt to market conditions, take advantage of market opportunities and meet competitive threats" (Vorhies, 1998). Based on the "resource-based based view" and "capacity based view" of the firm (Peteraf, 1993; Teece et al., 1997), marketing researchers stated that "marketing of resources and capabilities can contribute to the creation of a competitive advantage because they may be rare, difficult to achieve, difficult to duplicate and their value can be appropriated by the organization." The ability to gather, disseminate and use market information is a key to the organizational performance and growth (Jaworski & Kohli, 1993).
3.2 Human-Resource Retention Capability:
Human resources are the flesh and backbone of any organization. Hence, maintaining and retaining employees is crucial for effective performance of any organisation. In order to retain talent pool, various strategies are being implemented in both global and domestic organisation regardless of size of the firms. "Retaining the desirable employees is beneficial to an organization in gaining competitive advantage that cannot be substituted by other competitors in terms of producing high morale and satisfied co-workers who will provide better customer service and enhanced productivity, wh
3.1 Marketing Capability:
Marketing capability indicates the firms' capacity to popularise and market the products with clear understanding on present and future needs of the consumers, approaches to consumer interactions, knowledge on competitors' strategies and approaches. Marketing capabilities are defined as "the integrative processes designed to apply collective knowledge, skills and resources of the firm to market-related needs of the business, enabling the business to add value to ist goods and services, adapt to market conditions, take advantage of market opportunities and meet competitive threats" (Vorhies, 1998). Based on the "resource-based based view" and "capacity based view" of the firm (Peteraf, 1993; Teece et al., 1997), marketing researchers stated that "marketing of resources and capabilities can contribute to the creation of a competitive advantage because they may be rare, difficult to achieve, difficult to duplicate and their value can be appropriated by the organization." The ability to gather, disseminate and use market information is a key to the organizational performance and growth (Jaworski & Kohli, 1993).
3.2 Human-Resource Retention Capability:
Human resources are the flesh and backbone of any organization. Hence, maintaining and retaining employees is crucial for effective performance of any organisation. In order to retain talent pool, various strategies are being implemented in both global and domestic organisation regardless of size of the firms. "Retaining the desirable employees is beneficial to an organization in gaining competitive advantage that cannot be substituted by other competitors in terms of producing high morale and satisfied co-workers who will provide better customer service and enhanced productivity, wh
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Bibliographische Angaben
- Autor: K. L. Prasanna Kumar
- 2017, 88 Seiten, Maße: 15,5 x 22 cm, Kartoniert (TB), Englisch
- Verlag: Anchor Academic Publishing
- ISBN-10: 3960671369
- ISBN-13: 9783960671367
Sprache:
Englisch
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