Abstract
Dynamic capabilities and sustainability practices have become the center of attention for companies globally, but there is still a debate on how organizations can successfully develop dynamic capabilities and achieve sustainability for competitive advantage. This paper discusses the outcomes of a comprehensive systematic literature review (SLR) following the PRISMA guidelines and employs dynamic capabilities theory to suggest that strategic routines and competencies, integrated value chains, sustainability-oriented transformations, and strategic organizational developments are the drivers to effectively develop dynamic capabilities. Similarly, environmental-oriented sustainability, sustainable strategic management, sustainable dynamic capabilities, stakeholder-centric approach, sustainable supply chain management, operational excellence, sustainable research and development (R&D), and sustainability-oriented global business strategy are found to be the drivers to achieve overall corporate sustainability. Based on the findings, a conceptual model is proposed to obtain sustained competitive advantage by developing sustainable dynamic capabilities and achieving corporate sustainability.
Highlights
The current status research on the topics ofon dynamic capabilities andcapabilities sustainability was determined by analyzing research papers through focusing on the key determinants was determined by analyzing research papers through focusing on the key determinants such as the geographical context of the research, the research focus, the dimensions and such as the geographical context of the research, the research focus, the dimensions and types of dynamic capabilities discussed papers,sector, the business sector, the strategic types of dynamic capabilities discussed in the papers, in thethe business the strategic focus of the research, and the research methods used in the papers
5 years, has been an increased research on the sustainabilitythe enable to sensethere the opportunities and threats, seizing focus the targeted integrative nature of dynamic capabilities and sustainability, the research agenda of those studies has been very limited and could not present or investigate the detailed aspects of the drivers and routines of dynamic capabilities and corporate sustainability to understand their full impact on business strategies
During the past 5 years, there has been an increased research focus on the integrative nature of dynamic capabilities and sustainability, the research agenda of those studies has been very limited and could not present or investigate the detailed aspects of the drivers and routines of dynamic capabilities and corporate sustainability to understand their full impact on business strategies
Summary
Sustainable corporate development can only be achieved through a pragmatic strategy incorporating sustainability at its core along with sustainable business models [1,2](pp. 1–160), and to stay competitive, dynamic capabilities are key contributing factors to sustain competitive advantage in the ever-changing business landscape [3] (p. 393), [4,5].Despite the importance and implications of dynamic capabilities and corporate sustainability for contemporary businesses, to date, only 15 studies have focused on dynamic capabilities and sustainability in an integrated manner [1,4,6].Organizations must take sustainability as a dynamic capability to sense new opportunities and threats, seize relevant opportunities, and reconfigure and transform according to the market dynamics [2,7,8]. 1–160), and to stay competitive, dynamic capabilities are key contributing factors to sustain competitive advantage in the ever-changing business landscape [3] Despite the importance and implications of dynamic capabilities and corporate sustainability for contemporary businesses, to date, only 15 studies have focused on dynamic capabilities and sustainability in an integrated manner [1,4,6]. Sustainability practices have been driven by regulatory compliance requirements, but more recently businesses have started to focus on corporate sustainability through benchmarking against three key metrics: environmental, social, and governance (ESG), but this is only a static view. By focusing just on the ESG ratings, current sustainability practices will gradually become a market norm with no competitive advantage if sustainability is not considered to be a dynamic capability.
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