Abstract
Work on dynamic capabilities is proving to be a fruitful direction in understanding the nature of the firm. Despite its popularity, some scholars have attacked the dynamic capability theory as lacking theoretical underpinnings. In this study, we clarify the origins of the dynamics of the dynamic capabilities framework. Standard operating procedures, routines and the concept of routinization are important elements of understanding the contribution of ordinary capabilities and dynamic capabilities within this stream of literature. Based on the insights of the non-strategic model of Cyert and March, through the dynamic evolutionary theory of the firm in Nelson and Winter, then through the efforts by Teece, Pisano and Shuen (1997) and Teece (2007, 2014), dynamic capabilities have evolved into a dominant theory of the field of strategic management. We provide a brief overview of key topics and empirical research, along with some ideas for future research.
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