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Competitive advantage and strategy formulation The key role of dynamic capabilities

Purpose – The aim of this paper is to promote the use of dynamic capabilities as a strategic tool of the highest order in terms of firm management. Design/methodology/approach – The content of the article is developed from a table that offers some insights into the relationship between the three theoretical perspectives analyzed in the paper: resource‐based view, knowledge‐based view and dynamic‐capabilities view. Findings – The paper describes the evolution that can be discerned in the process of developing competitive advantage, from a resource‐based view to a dynamic‐capabilities framework. Originality/value – The objective of the article was not to bring to light any new revelations in this field of investigation, but is intended as a theoretical reflection on the implications of dynamic capabilities for firms and managers. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Management Decision Emerald Publishing
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