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The field of dynamic capabilities has been mischaracterized by derivative interpretations of the original concept, with variation in terms, core assumptions, and methodologies. However, in its original formulation, dynamic capabilities were a framework rooted in organizational economics. We take the original formulation as a starting point to explore the relevance of the concept of emergence to the framework today. This perspective leads to a reinterpretation of the role of complementarities, cospecialization, rules, coevolution, and the ecosystem in the dynamic capabilities framework. The article concludes with directions for research that this new frame of reference helps identify.

The role of emergence in dynamic capabilities: a restatement of the framework and some possibilities for future research