David J. Teece

Bio: David J. Teece is an academic researcher from University of California, Berkeley. The author has contributed to research in topics: Dynamic capabilities & Multinational corporation. The author has an hindex of 89, co-authored 312 publications receiving 93195 citations. Previous affiliations of David J. Teece include Yale University & University of Michigan.

A Tribute to Oliver Williamson: Williamson's Impact on the Theory and Practice of Management:

Abstract: Although unknown to most CEOs, at least until his recent recognition by the Nobel Economics Prize Committee, Oliver Williamson has had a large impact on management theory and practice. There are many organization and strategy questions where his research is highly relevant. Williamson has spent much of his career trying to understand how things ought to be organized to promote efficiency, minimize manageable contractual risk, and achieve profitability. He developed transaction cost economics as a framework to assist managers in making critical strategic decisions.

Economic performance and the theory of the firm

Abstract: These papers by Teece cover the theory of the firm and its implications for economic performance, as they concern managers and policy-makers. Key topics addressed include: the nature of the firm and dynamic capabilities; diversification and vertical integration; and joint ventures.

Antitrust Policy and Innovation: Taking Account of Performance Competition and Competitor Cooperation*

Abstract: The following sections are included:OverviewThe Nature and Importance of Competition and the Goals of AntitrustInnovation and Market Power AssessmentInnovation and Cooperative Agreements among CompetitorsThe (Traditional) Serial ModelThe Simultaneous ModelOrganizational Requirements of InnovationGovernance Alternatives for InnovationThe price mechanismInternal organizationStrategic alliancesAntitrust Treatment of Agreements Among CompetitorsProposed Modifications to U.S. Antitrust Law Affecting Cooperative Agreements Among CompetitorsConclusionSummaryZusammenfassungReferences

Essays in technology management and policy

Abstract: Capturing Value from Technological Innovation Sustaining Value Creation and Capture Licensing, Technology Transfer, and the Market for Know-How Technological Change and Competition Policy Technological Innovation and the Theory of the Firm.

Dynamic capabilities and strategic management

Abstract: The dynamic capabilities framework analyzes the sources and methods of wealth creation and capture by private enterprise firms operating in environments of rapid technological change. The competitive advantage of firms is seen as resting on distinctive processes (ways of coordinating and combining), shaped by the firm's (specific) asset positions (such as the firm's portfolio of difftcult-to- trade knowledge assets and complementary assets), and the evolution path(s) it has aflopted or inherited. The importance of path dependencies is amplified where conditions of increasing retums exist. Whether and how a firm's competitive advantage is eroded depends on the stability of market demand, and the ease of replicability (expanding intemally) and imitatability (replication by competitors). If correct, the framework suggests that private wealth creation in regimes of rapid technological change depends in large measure on honing intemal technological, organizational, and managerial processes inside the firm. In short, identifying new opportunities and organizing effectively and efficiently to embrace them are generally more fundamental to private wealth creation than is strategizing, if by strategizing one means engaging in business conduct that keeps competitors off balance, raises rival's costs, and excludes new entrants. © 1997 by John Wiley & Sons, Ltd.

Dynamic capabilities, what are they?

Abstract: This paper focuses on dynamic capabilities and, more generally, the resource-based view of the firm. We argue that dynamic capabilities are a set of specific and identifiable processes such as product development, strategic decision making, and alliancing. They are neither vague nor tautological. Although dynamic capabilities are idiosyncratic in their details and path dependent in their emergence, they have significant commonalities across firms (popularly termed ‘best practice’). This suggests that they are more homogeneous, fungible, equifinal, and substitutable than is usually assumed. In moderately dynamic markets, dynamic capabilities resemble the traditional conception of routines. They are detailed, analytic, stable processes with predictable outcomes. In contrast, in high-velocity markets, they are simple, highly experiential and fragile processes with unpredictable outcomes. Finally, well-known learning mechanisms guide the evolution of dynamic capabilities. In moderately dynamic markets, the evolutionary emphasis is on variation. In high-velocity markets, it is on selection. At the level of RBV, we conclude that traditional RBV misidentifies the locus of long-term competitive advantage in dynamic markets, overemphasizes the strategic logic of leverage, and reaches a boundary condition in high-velocity markets. Copyright © 2000 John Wiley & Sons, Ltd.

Evolving to a New Dominant Logic for Marketing

Abstract: Marketing inherited a model of exchange from economics, which had a dominant logic based on the exchange of “goods,” which usually are manufactured output The dominant logic focused on tangible resources, embedded value, and transactions Over the past several decades, new perspectives have emerged that have a revised logic focused on intangible resources, the cocreation of value, and relationships The authors believe that the new perspectives are converging to form a new dominant logic for marketing, one in which service provision rather than goods is fundamental to economic exchange The authors explore this evolving logic and the corresponding shift in perspective for marketing scholars, marketing practitioners, and marketing educators

Toward a Knowledge-Based Theory of the Firm

Abstract: Given assumptions about the characteristics of knowledge and the knowledge requirements of production, the firm is conceptualized as an institution for integrating knowledge. The primary contribution of the paper is in exploring the coordination mechanisms through which firms integrate the specialist knowledge of their members. In contrast to earlier literature, knowledge is viewed as residing within the individual, and the primary role of the organization is knowledge application rather than knowledge creation. The resulting theory has implications for the basis of organizational capability, the principles of organization design (in particular, the analysis of hierarchy and the distribution of decision-making authority), and the determinants of the horizontal and vertical boundaries of the firm. More generally, the knowledge-based approach sheds new light upon current organizational innovations and trends and has far-reaching implications for management practice.

The Relational View: Cooperative Strategy and Sources of Interorganizational Competitive Advantage

Abstract: In this article we offer a view that suggests that a firm's critical resources may span firm boundaries and may be embedded in interfirm resources and routines. We argue that an increasingly important unit of analysis for understanding competitive advantage is the relationship between firms and identify four potential sources of interorganizational competitive advantage: (1) relation-specific assets, (2) knowledge-sharing routines, (3) complementary resources/capabilities, and (4) effective governance. We examine each of these potential sources of rent in detail, identifying key subprocesses, and also discuss the isolating mechanisms that serve to preserve relational rents. Finally, we discuss how the relational view may offer normative prescriptions for firm-level strategies that contradict the prescriptions offered by those with a resource-based view or industry structure view.