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Organization Science
Vol. 20, No. 2, March–April 2009, pp. 410–421 issn 1047-7039 eissn 1526-5455 09 2002 0410

informs

®

doi 10.1287/orsc.1090.0424 © 2009 INFORMS

Dynamic Capabilities and the Role of Managers in Business Strategy and Economic Performance
Mie Augier
Stanford University, Stanford, California 94305, augier@stanford.edu

David J. Teece
Institute of Management, Innovation and Organization, Haas School of Business, University of California, Berkeley, Berkeley, California 94720, teece@hass.berkeley.edu

his paper discusses some developments in the theory of the organizational capabilities of the business enterprise. Antecedents are recognized, and some promising new developments and areas for future research are identified. The role of managers in the economic system is highlighted and discussed within the context of economic and organizational research. Suggestions for future developments of dynamic capability research involve employment of evolutionary and behavioral theories.

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Key words: strategy; organizational changes; organizational capabilities

1. Introduction
Management and organization lie at the heart of the performance of both individual enterprises and national economies. The purpose of organization is to enable and facilitate coordination and collective effort by individuals. However, such activity requires entrepreneurial and professional management—the price system alone cannot “manage” economic activity. The invisible hand must have fingers that can work in a coordinated fashion. This paper helps outline a framework that can be used to help organize ideas about management and strategy. Recognized business historians such as Chandler (1990) attribute a large part of the reason why the United States overtook Britain in economic performance to differences in strategy, management, and enterprise structure. Many other writers see the organization of Japanese firms after 1950 as a major factor enabling Japanese...

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