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.

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Dynamic capabilities and strategic management

计量经济分析 = Econometric analysis

This paper differs from previous examinations of organizational learning in that it is broader in scope and more evaluative of the literatures. Four constructs related to organizational learning knowledge acquisition, information distribution, information interpretation, and organizational memory are articulated, and the literatures related to each are described and critiqued.

The literature on knowledge acquisition is voluminous and multi-faceted, and so the knowledge acquisition construct is portrayed here as consisting of five subconstructs or subprocesses: 1 drawing on knowledge available at the organization's birth, 2 learning from experience, 3 learning by observing other organizations, 4 grafting on to itself components that possess knowledge needed but not possessed by the organization, and 5 noticing or searching for information about the organization's environment and performance. Examination of the related literatures indicates that much has been learned about learning from experience, but also that there is a lack of cumulative work and a lack of integration of work from different research groups. Similarly, much has been learned about organizational search, but there is a lack of conceptual work, and there is a lack of both cumulative work and syntheses with which to create a more mature literature. Congenital learning, vicarious learning, and grafting are information acquisition subprocesses about which relatively little has been learned.

The literature concerning information distribution is rich and mature, but an aspect of information distribution that is central to an organization's benefitting from its learning, namely how units that possess information and units that need this information can find each other quickly and with a high likelihood, is unexplored. Information interpretation, as an organizational process, rather than an individual process, requires empirical work for further advancement. Organizational memory is much in need of systematic investigation, particularly by those whose special concerns are improving organizational learning and decision making.

https://www.jstor.org/stable/pdfplus/2634941.pdf

Organizational Learning: The Contributing Processes and the Literatures

Organizational learning has many virtues, virtues which recent writings in strategic management have highlighted. Learning processes, however, are subject to some important limitations. As is well-known, learning has to cope with confusing experience and the complicated problem of balancing the competing goals of developing new knowledge (i.e., exploring) and exploiting current competencies in the face of dynamic tendencies to emphasize one or the other. We examine the ways organizations approach these problems through simplification and specialization and how those approaches contribute to three forms of learning myopia, the tendency to overlook distant times, distant places, and failures, and we identify some ways in which organizations sustain exploration in the face of a tendency to overinvest in exploitation. We conclude that the imperfections of learning are not so great as to require abandoning attempts to improve the learning capabilities of organizations, but that those imperfections suggest a certain conservatism in expectations.

https://www.jstor.org/stable/pdfplus/2486499.pdf

The myopia of learning

Myopia of learning

This study examines an important potential conflict between the institutional, governance, and strategic functions of boards. We specifically test how higher levels of board size and diversity, traditionally associated with optimal institutional and governance performance of boards, affect the boards ability to initiate strategic changes during periods of environmental turbulence. Our findings suggest that board diversity, in particular, may be a significant constraint on strategic change.

https://www.jstor.org/stable/pdfplus/2486969.pdf

The effects of board size and diversity on strategic change

The research reported here examined the evolution of strategy over time and the conditions under which change in strategy is likely. Findings show that characteristics of an organization's founding imprint its initial strategy by contributing to an internal consensus around a given strategic approach. Conditions subsequent to founding also influence the degree to which an initial strategy is perpetuated. The study examined perspectives on organizational change and inertia and further developed them to explain the role of history and precedence in shaping strategic action.

Strategic Change: The Effects Of Founding And History

This study examined how chief executive and top management team characteristics interact with organizational performance to influence strategic change. Results indicate that poor performance, long ...

Strategic change: The influence of managerial characteristics and organizational growth.

Warren Boeker Columbia University A study of 67 organizations over a 22-year period is used to examine the likelihood of chief executive and top management dismissal as a result of organizational performance and the distribution of power in the organization. Powerful chief executives are found to be less likely than less powerful chief executives to be dismissed during performance downturns. Instead, they displace blame for poor performance onto their subordinates, the top managers of the organization, who subsequently are replaced, while the chief executive remains. The paper examines the role that board composition and organization ownership play in influencing the amount of power the chief executive is likely to possess and explores what actions organizations with poor performance but powerful chief executives might take.'

Power and Managerial Dismissal: Scapegoating at the Top.

This research was supported by grants from Columbia Business School's Management Institute. I thank Eric Abrahamson, Min-Jer Chen, Donald Hambrick, and Michael Tushman for ideas and thoughtful comments. This study examines how the movement of top managers across organizations (executive migration) over an 18-year period in the semiconductor industry influences strategic change, specifically, entry into new product markets. Results support the argument that executive migration brings managers into the organization with prior exposure to different products and strategies, which in turn is reflected in subsequent product-market entry decisions by the executive's new firm. Results also show that the effects of executive migration are influenced by attributes of the executive and characteristics of the top management team of the focal firm. The effects of executive migration on product-market entry are stronger when the new managers came from the functions of R&D and engineering, when they reported to the chief executive in their former organization, and when they had greater industry experience. Attributes of the focal firm's top management team also appear to moderate the influence of the new executive. Smaller top management teams and teams with shorter tenures demonstrate a stronger relationship between executive migration and strategic change.'

Warren Boeker

Papers

The effects of board size and diversity on strategic change

Strategic Change: The Effects Of Founding And History

Strategic change: The influence of managerial characteristics and organizational growth.

Power and Managerial Dismissal: Scapegoating at the Top.

Executive Migration and Strategic Change: The Effect of Top Manager Movement on Product-Market Entry