Abstract
This paper draws together knowledge from a variety of fields to propose that management can be viewed as a form of organizational capability. Excellent companies invest and nurture this capability, from which they execute effective processes, leading to innovations in new product, services and processes, and superior business performance results. An extensive review of the literature on management, along with a case study of Cisco Systems, develops a conceptual model of the firm as an engine. This new operating model sees substantial investment in as the primary engine for wealth creation, rather than the possession of physical assets. Building on the dynamic capabilities literature, an innovation capability construct is proposed with seven elements. These are vision and strategy, harnessing the competence base, organizational intelligence, creativity and idea management, organizational structures and systems, culture and climate, and management of technology.
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