Competitive advantage and strategy formulation: The key role of dynamic capabilities
Abstract
Purpose
The aim of this paper is to promote the use of dynamic capabilities as a strategic tool of the highest order in terms of firm management.
Design/methodology/approach
The content of the article is developed from a table that offers some insights into the relationship between the three theoretical perspectives analyzed in the paper: resource‐based view, knowledge‐based view and dynamic‐capabilities view.
Findings
The paper describes the evolution that can be discerned in the process of developing competitive advantage, from a resource‐based view to a dynamic‐capabilities framework.
Originality/value
The objective of the article was not to bring to light any new revelations in this field of investigation, but is intended as a theoretical reflection on the implications of dynamic capabilities for firms and managers.
Keywords
Citation
Vivas López, S. (2005), "Competitive advantage and strategy formulation: The key role of dynamic capabilities", Management Decision, Vol. 43 No. 5, pp. 661-669. https://doi.org/10.1108/00251740510597699
Publisher
:Emerald Group Publishing Limited
Copyright © 2005, Emerald Group Publishing Limited