2 Capabilities building through dynamic capabilities approach
2.1 Dynamic capabilities approach
Resource-based theory, which focuses on independent capabilities for companies and organizations (e.g., Penrose, 1959; Richardson, 1972; Wernerfelt, 1984; Rumelt, 1984; Barney, 1991), has developed as a strategy theory framework from the viewpoints of microeconomics and organizational economics. Resource-based theory and Porter’s (1980) competition strategy theory enable a detailed analysis of strategic positioning and the relationship between competitive excellence and the internal resources already owned by companies in slowly changing environments and industries. However, it is difficult to analyze how companies ...
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