A business model is more than just a business plan. Avoid future headaches by reviewing the key elements of good business model design.
Content: Article | Author: David J. Teece | Source: IESE Insight | Subject: Management
To U.C. Berkeley’s long-standing strategy thinker, companies gain an edge only when they evolve in ways no one else can match.
Content: Thought Leader | Authors: Art Kleiner, David J. Teece | Source: strategy+business | Subjects: Organizational Behavior, Strategy
Unless you have truly fundamental inventions that no one else can copy, you need both [intellectual property rights and dynamic capabilities]. Strong intellectual property protection, in itself, will only help you on the first round of innovation. During that time, you can rent other people’s complementary capabilities. But sooner or later, you’re going to get copied, so you’ve got to move quickly to build the … [ Read more ]
Content: Quotation | Author: David J. Teece | Source: strategy+business | Subjects: Innovation, Intellectual Property, Management, Strategy
It’s very hard to figure out which capabilities are most important, which aspect of “the way things are done around here” is the one that leads to superior performance. Sometimes people in an organization don’t know why their own capability is successful. They attribute their success to the wrong factors.
Content: Quotation | Author: David J. Teece | Source: strategy+business | Subjects: Culture, Organizational Behavior
Dynamic capabilities can usefully be thought of as belonging to three clusters of activities and adjustments: (1) identification and assessment of an opportunity (sensing); (2) mobilization of resources to address an opportunity and to capture value from doing so (seizing); and (3) continued renewal (transforming). These activities are required if the firm is to sustain itself as markets and technologies change.
Content: Quotation | Author: David J. Teece | Source: Ivey Business Journal | Subjects: Management, Strategy
How do firms compete? How do firms earn above normal returns? What’s needed to sustain superior performance long term? An increasingly powerful answer to these fundamental questions of business strategy lies in the concept of dynamic capabilities. These are the skills, processes, routines, organizational structures, and disciplines that enable firms to build, employ, and orchestrate intangible assets relevant to satisfying customer needs, and which cannot … [ Read more ]
Content: Book | Author: David J. Teece | Subject: Strategy