Dynamic Capabilities - Processes - Co-specialization

Co-specialization

Over time a firm's assets may become co-specialized, meaning that they are uniquely valuable in combination. An example is where the physical assets (e.g. the plants), human resources (e.g. the researchers) and the intellectual property (e.g. patents and tacit knowledge) of a company provide a synergistic combination of complementary assets. Such co-specialized assets are therefore more valuable in combination than in isolation. The combination gives a firm a more sustainable competitive advantage. (Teece, 2009 and Douma & Schreuder, 2013)