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Dynamic capabilities and sustained innovation: strategic control and financial commitment at Rolls-Royce plc

  • William Lazonick
  • Andrea Prencipe
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    Rolls-Royce plc is currently a powerful competitor in the turbofan engine industry, notwithstanding its own troubled history and the relative lack of international success of British companies in high-technology manufacturing over the past half-century. This paper seeks to contribute to the development of a theory of innovative enterprise by analyzing the roles of strategy and finance in sustaining the innovation process at Rolls-Royce over four decades from the mid-1960s. Through an analysis of 'strategic control' and 'financial commitment' as conditions of innovative enterprise at different stages in Rolls-Royce's evolution, we adduce evidence that innovation depends in part on who strategic managers are and how they gain control over financial resources. Copyright 2005, Oxford University Press.

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    Article provided by Oxford University Press in its journal Industrial and Corporate Change.

    Volume (Year): 14 (2005)
    Issue (Month): 3 (June)
    Pages: 501-542

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    Handle: RePEc:oup:indcch:v:14:y:2005:i:3:p:501-542
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