Strategy in turbulent environments: the role of dynamic competence
It is often observed that firm survival and success have become problematic in the turbulent environments that firms face today. Resource-based theories propose that sustained competitive advantage is more a function of firm resources than of industry structure. In this paper, the nature of resources that help firms sustain (or try to sustain) a competitive advantage in turbulent environments is queried. Viewing the firm as a stock of knowledge, the argument that dynamic competence or the variety-generating capability of knowledge is an important antecedent of superior performance in such turbulent environments is developed. Copyright © 2001 John Wiley & Sons, Ltd.
Volume (Year): 22 (2001)
Issue (Month): 4-5 ()
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- Richard R. Nelson, 1982. "The Role of Knowledge in R&D Efficiency," The Quarterly Journal of Economics, Oxford University Press, vol. 97(3), pages 453-470.
- Richard N. Langlois & Metin M. Cosgel, 1996. "The Organization of Consumption," Working papers 1996-07, University of Connecticut, Department of Economics.
- Teece, David J., 1982. "Towards an economic theory of the multiproduct firm," Journal of Economic Behavior & Organization, Elsevier, vol. 3(1), pages 39-63, March.
- Christensen, Clayton M., 1993. "The Rigid Disk Drive Industry: A History of Commercial and Technological Turbulence," Business History Review, Cambridge University Press, vol. 67(04), pages 531-588, December.
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