The Nature of Technology and Technological Change (strategy management )

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RZEB

Business Finance

Description

Critical Thinking Assignment (100 points)

The Nature of Technology and Technological Change

In the readings for this week, you will find widely varying debates about the nature of technology and technological change, as well as the ways in which technology interacts with organizational processes. To prepare for this assignment, review the required readings for this week and read the three articles below.

Your well-written paper should meet the following requirements:

  • Be 3-4 pages in length, which does not include the required title page or reference page, which are never a part of the content minimum requirements.
  • Use APA style guidelines.
  • Support your submission with course material concepts, principles, and theories from the textbook and at least two scholarly, peer-reviewed journal articles unless the assignment calls for more.

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Explanation & Answer

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Running head: DYNAMIC CAPABILITIES

1

Dynamic Capabilities
Institution Affiliation
Instructor’s Name
Student’s Name
Date

DYNAMIC CAPABILITIES

2

DYNAMIC CAPABILITIES
Dynamic capabilities refer to a concept that is perceived as the firm’s ability to integrate,
build and reconfigure internal and external competencies to address rapidly changing
environments (Teece, 2007). They could be called the firm’s ability, or the processes embedded
in the firm or collection of complicated routines. However based on this many explanations the
main one is that dynamic capabilities are tools that the firm us to build and renovate operational
capabilities faster and cheaper than their competitors (Teece, 2007).
They include product and process development, product refers to the commodity that the
firm is offering in exchange for value. Processes refer to the different steps that are followed in
the firm from raw material to product. Development of both products and processes refers to the
continuous process that takes several steps to improve both the products and the processes. The
product improvement is made by the firm ...

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