Dynamic capabilities: theoretical reflection from the field of strategy

Abstract

Dynamic capabilities are the object of study in the field of strategy. Its construct, although conceived at the beginning of the 20th century, only deepened from the 1990s. Throughout the literature on the matter, there are various definitions that go mainly into three approaches: innovation, Contingent, and capacity building. On the other hand, dynamic capabilities have been finding convergent points in their respective perspectives, especially in two key aspects: the first, in which companies are required to continuously develop adaptive capacity, and the second, in which investing in its construction only makes rational sense if it is done from the perspective of exploring new knowledge that allows the continuous construction of new organizational capabilities. In a world of rapid technological changes and changes in consumption patterns, dynamic capabilities emerge as a criterion or construct within the field of strategy to try to explain how to create and sustain competitive advantage.