Definition of Dynamic Capabilities

✅  Related keywords: competences, resources

📖  What are Dynamic Capabilities?

A company’s capacity to adapt to an evolving market through change, innovation, and learning. In order to do this effectively, firms need to sense the market change before competitors, seize the opportunity quickly, and reconfigure the business model to adjust to the change. Two companies with impressive dynamic capabilities are Apple and IBM, who need to adapt to the market and even reinvent themselves quickly and effectively in order to remain market leaders.