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Dynamic Capabilities in SMEs: The Integration of External Competencies

Author

Listed:
  • Vlatka Skokic

    (University of Surrey, United Kingdom)

  • Marko Coh

    (Maxxim Consulting London, W1F 7JW, UK, United Kingdom)

  • Marko Torkkeli

    (School of Business and Management Lappeenranta University of Technology P.O.Box 20, FI-53851, Lappeenranta, Finland , Finland)

Abstract

In spite of substantial body of theoretical and conceptual contributions, empirical evidence of nature of dynamic capabilities and their influence on firm performance is still relatively scarce. We present review of empirical studies of well-known processes that highlight constituting elements of dynamic capabilities, and conclude that relatively little research has been conducted to address managerial practices and processes employed to integrate external competencies. We propose concept of ‘relationship capability’, that denotes integrative dynamic capability constituted of managerial practices and processes that are employed in SMEs, first, to sense and interpret firm’s environment, second, to reconfigure internal organizational processes to integrate external competencies in the firm and third, to develop specialized offerings based on platforms.

Suggested Citation

  • Vlatka Skokic & Marko Coh & Marko Torkkeli, 2015. "Dynamic Capabilities in SMEs: The Integration of External Competencies," International Journal of Business Research and Management (IJBRM), Computer Science Journals (CSC Journals), vol. 6(3), pages 54-70, September.
    • Handle: RePEc:aml:intbrm:v:6:y:2015:i:3:p:54-70
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Dynamic Capabilities; SMEs; Relationship Capability; External Competencies; External Environment.;
    All these keywords.

    JEL classification:

    • M0 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General

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