Abstract
AbstractThe rapid, pervasive growth of Internet use for business purposes has had a noticeable effect on numerous firms' business strategies. This type of perturbation among competitors results in a more dynamic market. To be successful in such a market often requires a firm to reexamine how it competes. In recent years, two strategic management theories—the resource‐based view (RBV) and the dynamic capabilities theory (DCT)—have been advanced by proponents as being the key to developing successful competitive advantage. We argue that the DCT is a logical extension of the RBV. Operationalization has been a critical issue for both theories, and this paper fills a gap in the literature by offering a method of operationalizing dynamic capabilities. Copyright © 2009 ASAC. Published by John Wiley & Sons, Ltd.
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