Processes
Three dynamic capabilities are necessary in order to meet new challenges. Organizations and their employees need the capability to learn quickly and to build strategic assets. New strategic assets such as capability, technology and customer feedback have to be integrated within the company. Existing strategic assets have to be transformed or reconfigured.
Teece’s concept of dynamic capabilities essentially says that what matters for business is corporate agility: “the capacity (1) to sense and shape opportunities and threats, (2) to seize opportunities, and (3) to maintain competitiveness through enhancing, combining, protecting, and, when necessary, reconfiguring the business enterprise’s intangible and tangible assets.”
Read more about this topic: Dynamic Capabilities
Famous quotes containing the word processes:
“Our bodies are shaped to bear children, and our lives are a working out of the processes of creation. All our ambitions and intelligence are beside that great elemental point.”
—Phyllis McGinley (1905–1978)
“All the followers of science are fully persuaded that the processes of investigation, if only pushed far enough, will give one certain solution to each question to which they can be applied.... This great law is embodied in the conception of truth and reality. The opinion which is fated to be ultimately agreed to by all who investigate is what we mean by the truth, and the object represented in this opinion is the real.”
—Charles Sanders Peirce (1839–1914)
“The higher processes are all processes of simplification. The novelist must learn to write, and then he must unlearn it; just as the modern painter learns to draw, and then learns when utterly to disregard his accomplishment, when to subordinate it to a higher and truer effect.”
—Willa Cather (1873–1947)