Dynamic Capabilities in SMEs: The Integration of External Competencies

Vlatka Skokic (), Marko Coh () and Marko Torkkeli ()
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Vlatka Skokic: University of Surrey, United Kingdom
Marko Coh: Maxxim Consulting London, W1F 7JW, UK, United Kingdom
Marko Torkkeli: School of Business and Management Lappeenranta University of Technology P.O.Box 20, FI-53851, Lappeenranta, Finland , Finland

International Journal of Business Research and Management (IJBRM), 2015, vol. 6, issue 3, 54-70

Abstract: In spite of substantial body of theoretical and conceptual contributions, empirical evidence of nature of dynamic capabilities and their influence on firm performance is still relatively scarce. We present review of empirical studies of well-known processes that highlight constituting elements of dynamic capabilities, and conclude that relatively little research has been conducted to address managerial practices and processes employed to integrate external competencies. We propose concept of ‘relationship capability’, that denotes integrative dynamic capability constituted of managerial practices and processes that are employed in SMEs, first, to sense and interpret firm’s environment, second, to reconfigure internal organizational processes to integrate external competencies in the firm and third, to develop specialized offerings based on platforms.

Keywords: Dynamic Capabilities; SMEs; Relationship Capability; External Competencies; External Environment. (search for similar items in EconPapers)
JEL-codes: M0 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:aml:intbrm:v:6:y:2015:i:3:p:54-70

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