Dynamic capabilities

Question 1

Resource based view fails to explain why some firms have a sustainable competative advantage in high changing markets

Answer 1

That is claimed

Question 2

What are dynamic capabilites

Answer 2

Processes that a firm has to learn and adapt, something that could be seen as a strategic resource (routines to learn routines)

Question 3

Name some example of dynamic capabilities

Answer 3

The practice of pooling perspectives to develop new products (beeing good athaving people with different backgrounds work together), Routines to spread and kopy knowledge in a firm, Ptching aka to divide and reconfigure the view of market segments, also the ability to idnetify and make startegic alliances

Question 4

Name some common ways firs try to create dynamic capabilities

Answer 4

Reward individual performance, encurage external linkages by partenering with knowledge insitutions, hiring people with personal networks and making publications in scientific jurnals a promotion criteria. Also to create cross functional teams and have activities that encurage the fomration of personal bonds with team members.

Question 5

Dynamic capabilites are sources of sustained competative advantage

Answer 5

False, they have a lot of communalities and can probably be copied and substituted

Question 6

What are moderately dynamic markets

Answer 6

Markets where change happens frequently but is predictable

Question 7

Dynamic capabilities in moderately dynamic markets rely heavily on exhisting knowledge

Answer 7

Yes, learning before doing is a common pattern

Question 8

What are high velocity markets

Answer 8

Markets when change is frequent and unpredictable. Often becouse market boundries are blurred, players (firms consumers, supplyers) are shifting and successful business models are unclear

Question 9

Dynamic capabilities in high velocity markets rely heavily on exhisting knowledge

Answer 9

No, it relies more on protocols for knowledge creation, they are also much simpler then in moderately dynamic markets often just a couple of simple rules of priority

Question 10

Creating multiple alternative solutions and using real time data is linked to higher effectiveness in high velocity markets

Answer 10

True

Question 11

Numeric decition making methods like linear programming are charactiristic of high velocity markets

Answer 11

False, moderately dynamic

Question 12

In high velocity markets, routines tend to either be forgotten or to complex

Answer 12

True, the they are on the edge of chaos

Question 13

In moderately dynamic markets dynamic capabilities are causally ambigous

Answer 13

False, on high velocity markets that tends to be the case

Question 14

Repeated practice is essential for developing dynamic capabilities

Answer 14

obviusly

Question 15

Managers learn most from small failures

Answer 15

Yes, it grabs their attention without making them defensive

Question 16

More experience is better experience

Answer 16

Flase, people need time to let information sink in

Question 17

manager specialization is more important in high velocity markets

Answer 17

True, generalists preform better in moderately dynamic, in high velocity markets selecting what is important of what you learned is mor eimportant

Question 18

Effective dynamic capabilities are necessary, but not sufficient, conditions for competitive advantag

Answer 18

True

Question 19

The resource based views emphasis on longterm competitive advantage is often unrealistic in high-velocity markets

Answer 19

True, that nececitates always looking for new short term advantages. As intel said, only the paranoid survive