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.

John Freeman: entrepreneurship and innovation defined—a personal remembrance

Abstract: This article is a personal remembrance by the authors, of John Freeman's transition from being a scholar on organization theory to an active contributor to entrepreneurship research, teaching and mentoring. The article reflects on Freeman's work on organizational ecology and entrepreneurship, as faculty director of the Lester Center for Entrepreneurship and Innovation at the University of California, Berkeley, as he turned the focus of the Center to new venture formation. The article narrates how Freeman came to regard new venture creation as a defined management process for the new class of business manager, the professional entrepreneur, and points out his extension of the entrepreneurial process beyond the individual to the team and even to the ecosystem. Copyright 2012 The Author 2012. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.

Fundamentals of Business Strategy

Abstract: Volume One Economic Analysis and Strategic Management - D J Teece The Nature of the Firm - R Coase Rational Decision Making in Business Organizations - Herbert A. Simon Organizational Behavior - James G March and Herbert A Simon Transaction-Cost Economics: The Governance of Contractual Relations - Oliver E. Williamson Production, Information Costs and Economic Organization - A Alchian and H Demsetz Four Formal(izable) Theories of the Firm? - Robert Gibbons Evolutionary Theorizing in Economics - Richard R. Nelson and Sidney G. Winter An Epilogue - Richard M Cyert and James G March Research on the Business Firm Limits to the Growth and Size of Firms - Edith Penrose A Legal Basis for the Firm Costly and Bounded Rationality in Individual and Team Decision-Making - Roy Radner Team Theory, Garbage Cans and Real Organizations: Some History and Prospects of Economic Research on Decision-Making in Organizations - Robert Gibbons Organizations and Markets - Herbert A. Simon The Great Opportunity - I - Alfred P. Sloan, Jr. The Beginnings of "Big Business" in American Industry - Alfred D. Chandler, Jr. Business Objectives and Survival Needs: Notes on a Discipline of Business Enterprise - Peter F. Drucker Volume Two The Enduring Logic of Industrial Success - Alfred D Chandler Jr The Dynamics of Industrial Capitalism - David J Teece Strategy and Organizational Evolution - Herbert A Simon The Evolution of Evolution - James G March What Is Strategy? - Michael E Porter Perspectives on Alfred Chandler's Scale and Scope Organizations and Markets - Herbert A Simon Strategizing, Economizing and Economic Organization - Oliver E Williamson 'Introduction' and 'Fundamental Issues in Strategy' - Richard P Rumelt, Dan E Schendel and David J Teece Evolutionary Theorizing in Economics - R Nelson and S Winter Team Theory, Garbage Cans and Real Organizations - Robert Gibbons Some History and Prospects of Economic Research on Decision-Making in Organizations PART TWO: INDUSTRY ANALYSIS AND COMPETITIVE STRATEGY Relation of Profit Rate to Industry Concentration - Joe S Bain American Manufacturing, 1936-1940 The Role of Investment in Entry Deterrence - Avinash Dixit Uncertain Imitability - S A Lippman and R P Rumelt An Analysis of Interfirm Differences in Efficiency under Competition Volume Three Do Markets Differ Much? - Richard Schmalensee Sustainable Advantage - Pankaj Ghemawat Reputation and Strategy - Keith Weigelt and Colin Camerer A Review of Recent Theory and Implications Performance Differences among Strategic Groups - Karel Cool and Dan Schendel The Theory of Business Strategy - Carl Shapiro The Economics of Modern Manufacturing - Paul Milgrom and John Roberts Technology, Strategy and Organization Does Strategy Research Need Game Theory? - Colin F Camerer How Much Does Industry Matter? - Richard P Rumelt Game Theory and Strategic Management - Garth Saloner Applications, Contributions and Limitations The Right Game - Adam M Brandenburger and Barry J Nalebuf Use Game Theory to Shape Strategy The Meaning of Monopoly - David J Teece and Mary Coleman Antitrust Analysis in High-Technology Industries PART THREE: THE RESOURCE COMPETENCES-BASED APPROACH TO STRATEGY Towards an Economic Theory of the Multiproduct Firm - David J Teece A Resource-Based View of the Firm - Birger Wernerfelt Strategic Factor Markets - Jay B Barney Volume Four Determinants of Firm Performance - Gary S Hansen and Birger Wernerfelt The Relative Importance of Economic and Organizational Factors Firm Resources and Sustained Competitive Advantage - Jay Barney Why Do Firms Differ and How Much Does It Matter? - Richard R Nelson Strategic Assets and Organizational Rent - Raphael Amit and Paul J H Schoemaker A Sociological Perspective on Why Firms Differ - Glenn R Carroll The Cornerstones of Competitive Advantage - Margaret A Peteraf A Resource-Based Approach Sustainable Competitive Advantage - Christine Oliver Combining Institutional and Resource-Based Views Is the Resource-Based 'View' a Useful Perspective for Strategic Management Research? - Richard L Priem and John E Butler The Bargaining Perspective - Steven A Lippman and Richard P Rumelt The Payments Perspective - Steven A Lippman and Richard P Rumelt Micro-Foundations of Resource Analysis The Resource-Based Tangle - Nicolai J Foss and Thorbjorn Knudsen Towards a Sustainable Explanation of Competitive Advantage Dynamic Capabilities and the Multinational Enterprise - Mie Augier and David J Teece Competing on Resources - David J Collis and Cynthia Montgomory PART FOUR: DYNAMIC CAPABILITIES APPROACH Research Note - David J Collis How Valuable Are Organizational Capabilities? Volume Five Dynamic Capabilities and Strategic Management - David J Teece, Gary Pisano and Amy Shuen Introduction - Giovanni Dosi, Richard R Nelson and Sidney G Winter The Nature and Dynamics of Organizational Capabilities Structural Inertia and Organizational Change - Michael T Hannan and John Freeman Absorptive Capacity - Wesley M Cohen and Daniel A Levinthal A New Perspective in Learning and Innovation Exploration and Exploitation in Organizational Learning - James G March The Myopia of Learning - Daniel A Levinthal and James G March The Red Queen in Organizational Evolution - William P Barnett and Morten T Hansen The Satisfying Principle in Capability Learning - Sidney G Winter Deliberate Learning and the Evolution of Dynamic Capabilities - Maurizio Zollo and Sidney G Winter Cognitive Simplification Processes in Strategic Decision-Making - Charles R Schwenk The Psychological Context of Strategic Decisions - Thomas S Bateman and Carl P Zeithaml A Model and Convergent Experimental Findings The Attention-Based View of the Firm - William Ocasio Getting to Know You - Margaret Peteraf and Mark Shanley A Theory of Strategic Group Identity Volume Six Timid Choice and Bold Forecasts - Daniel Kahneman and Dan Lovallo Integrating Evolution, Cognition and Design - Mie Augier and Saras D Sarasvarthy Extending Simonian Perspectives to Strategic Organization Transactions-Cost Economics in Real Time - Richard Langlois Measuring Competences? Exploring Firm Effects in Pharmaceutical Research - Rebecca Henderson and Iain Cockburn Strategy Research - Oliver E Williamson Governance and Competence Perspectives Dynamic Capabilities - Kathleen M Eisenhardt and Jeffrey A Martin What Are They? The Economics of Strategic Opportunity - Jerker Denrell, Christina Fang and Sidney G Winter The Dynamic Resource-Based View - Constance E Helfat and Margaret A Peterof Capability Lifecycles Understanding Dynamic Capabilities - Sidney G Winter Rationality, Foolishness and Intelligence - James G March The Co-Evolution of Capabilities and Transaction Costs - Michael G Jacobides and Sidney G Winter Explaining the Institutional Structure of Production Explicating Dynamic Capabilities - David J Teece Nature, Microfoundations and Long-Run Enterprise Performance

Nonaka’s Contribution to the Understanding of Knowledge Creation, Codification and Capture

Abstract: The work of Ikujiro Nonaka has been very influential, both in theory development and in management practice. His deep insights into the process of new product development have shed light on the roles of leaders and middle managers in the knowledge creation process.

Economists' Statement on U.S. Broadband Policy

Abstract: Broadband, or high-speed access to the Internet, has generated significant economic benefits. Certain regulations, however, are slowing investment and deterring entry into the broadband market. In this statement, we make two recommendations that would remedy these regulatory defects and thereby lower artificial barriers to competitive provision of broadband services.

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.