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date: 20 February 2020

Abstract and Keywords

Dynamic capabilities are an important means by which organizations alter the ways in which they make their living. Most definitions of dynamic capabilities characterize them as composed of routines. However, there are means by which organizations change the ways in which they pursue competitive advantage that do not fit well within the formal definitions of routines, yet go beyond what is considered ad hoc problem solving. These dynamic capabilities entail patterned behavior and are the subject of the nascent literature on dynamic managerial capabilities. This chapter describes the relationship among dynamic managerial capabilities, creativity, and innovation in firms.

Keywords: dynamic capabilities, asset orchestration, human capital, social capital, cognition, managerial resources, organizational capabilities, business models

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