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Dynamic Capabilities in SMEs: The Integration of External Competencies
Vlatka Skokic, Marko Coh, Marko Torkkeli
Pages - 54 - 70     |    Revised - 31-08-2015     |    Published - 30-09-2015
Volume - 6   Issue - 3    |    Publication Date - September / October 2015  Table of Contents
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KEYWORDS
Dynamic Capabilities, SMEs, Relationship Capability, External Competencies, External Environment.
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.
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Dr. Vlatka Skokic
University of Surrey - United Kingdom
v.skokic@surrey.ac.uk
Dr. Marko Coh
Maxxim Consulting London, W1F 7JW, UK - United Kingdom
Dr. Marko Torkkeli
School of Business and Management Lappeenranta University of Technology P.O.Box 20, FI-53851, Lappeenranta, Finland - Finland