The study has been mainly attempted as an extension to previous studies made on dynamic capabilities and their necessity in organizational firms for goals’ accomplishments.
The report has primarily been created to present a study on the significance of dynamic capability thereby stressing on the factors that can be dealt through the use of dynamic capabilities.
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The study has provided with a detailed understanding of the dynamic capability strategies that have been found to be highly significant in successful organizational performance. It has been obtained from the study that the use of dynamic capabilities enable an organization to use strategic measures that prevent them for negative impacts; rather they are assisted through the availability of appropriate measures in achievement of organizational goals. Dynamic capabilities have shown to focus on appropriate selection and allocation of resources, performance of a firm, decision making by the organizational leaders and managers, innovativeness in products and technology, as well as changing environments of the business world. The study of dynamic capability can thus be said to be an important contribution in the researches made on organizational issues and for the success of different companies.
Originality/value: This report represents an original piece of work based on the studies and researches conducted by different researchers made earlier and the information gathered have been analyzed to reach to a conclusion as well as open opportunities for further studies and researches....
As it can be obtained from different studies, dynamic capabilities are “the capacity of an organization to purposefully create, extend, or modify its resource base” (Ambrosini, Bowman & Collier, 2009, p.S9). Dynamic competitive capabilities or DCCs offer value for a long period of time comprising competitive advantages obtained from customs and policies of different organizations. Organizational success depends to a large extent on the short term plans and routines that get incorporated to form bigger plans for the overall organizational objectives and goals (Chen, Lee & Lay, 2009, p. 1289). Technological competence is also considered as extremely important in the current scenario of global competition (Acur, Kandemir, Weerd-Nederhof & Song, 2010, p.915). Studies have reflected that innovativeness has the ability to alter the strategies of small and medium enterprises in their invention, development, introduction and commercialization of innovative products. Dynamic capabilities make organizations capable of such innovativeness by planning out suitable measures and finding out their impacts on the accomplishment of organizational goals (Branzei & Vertinsky, 2006, p.76). In the global world of competition, SCA or sustainable competitive advantage has been found to be of great importance and need in both marketing and strategic management of a business. Alternative systems are being focussed in the current researches conducted on marketing and management of organizations that tend to prove the worth of dynamic capabilities within organizations (Ali, Peters, He & Lettice, 2010, pp.363-364). Propositions in regard to the use of dynamic capabilities
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The results of the study indicate that when firms decide to allocate resources to product innovation, they expect to gain leverage in terms of competitiveness and performance. It reveals that continuous product innovation increases the capacity of a firm to serve wide ranging consumer needs thereby upholding their loyalty.
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With an intensive course on business development and expansion, Starbucks has become a corporation in 1987, and in the same year opened its first international location in Chicago (MarketLine Advantage, 2014). In 1992, the company completed
The employees and customers do happen to really respect and trust such business organizations that affiliate to ethical conduct in their day to day business practices (Kline, 2005). Thereby, the management at Wells Fargo has geared up to
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