1. Dynamic Capabilities and Strategic Management
David J. Teece, Gary Pisano and Amy Shuen
1997

2. Introduction
The fundamental question in the field of strategic management is how firms achieve and sustain competitive advantage.

3. Models of Strategy Emphasizing the Exploitation of Market Power
Competitive forces approach
Strategic conflict approach
Game theory
Co-opetition

4. Models of Strategy Emphasizing Efficiency
Resourced-based perspective
The dynamic capabilities approach: Overview

5. Toward A Dynamic Capabilities Framework
Terminology:
Factors of Production
Resources
Organizational Routines/Competences
Core Competences
Dynamic Capabilities
The firm’s ability to integrate, build, and reconfigure internal and external competences to address rapidly changing environments
Products

6. Toward A Dynamic Capabilities Framework
Market and Strategic Capabilities
The key of building a conceptual frame work related to dynamic capabilities is to identify the foundations upon which distinctive and difficult to replicate advantages can be built, maintained, and enhanced.
Identify what is not strategic(need, unique and difficult to replicate).
Fundamental distinctions between markets and internal organization.
The properties of internal organization cannot be replicated…

7. Toward A Dynamic Capabilities Framework
Processes, positions, and paths.
The competitive advantage of firms lies with its managerial and organizational processes, shaped by its asset position, and the paths available to it.

8. Toward A Dynamic Capabilities Framework
Processes
Organizational and managerial processes
Learning
Coordination/integration

9. Toward A Dynamic Capabilities Framework
Positions
Technological assets
Financial assets
Reputational assets
Structural assets
Institutional assets
Market assets

10. Toward A Dynamic Capabilities Framework
Paths
Path dependencies
Technological opportunities
Assessment

11. Toward A Dynamic Capabilities Framework
Replicability and imitatability of organizational processes and positions
Replication
Imitation

12. Conclusion

13. Conclusion Efficiency vs. market power Normative implication
Unit of analysis and analytic focus
Strategic change
Entry strategies
Entry timing
Diversification
Focus and specialization