Innovation and technology
Each firm pursues a specific innovation strategy with the objective to gaining a competitive advantage. To this end, the company draws on some unique, mostly complementary capabilities (technological, organisational, human and other resources). This view of the firm is a core concept of the “strategic management literature”, which is specified in several but effectively quite similar ways. To mention are primarily the “resource-based view of the firm" (Wernerfelt 1984), the “dynamic capability approach” (Teece et al. 1997; Teece 2010), or the concept of the “knowledge- based company” (Kogut and Zander 1993). Some other researchers emphasising the strategic behaviour of heterogeneous firms even find significant performance differences among sub-groups of a company (see, e.g., Rumelt 1991; McGahan et al. 1997).
Urooj Qureshi
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