Premium
Strategy, dynamic capabilities and complex science: management rhetoric vs. reality
Author(s) -
McGuinness Tony,
Morgan Robert E
Publication year - 2000
Publication title -
strategic change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.527
H-Index - 16
eISSN - 1099-1697
pISSN - 1086-1718
DOI - 10.1002/1099-1697(200006/07)9:4<209::aid-jsc485>3.0.co;2-g
Subject(s) - competition (biology) , strategic management , rhetoric , management science , computer science , management , economics , philosophy , ecology , linguistics , biology
AbstractThe dynamic capabilities approach (DCA) has dominated strategic analysis in the 1990s. It can offer a compelling explanation of competition, relative corporate performance and strategic decision‐making. The strengths of DCA are essentially in its use for historical explanation and its use in strategy formation is limited and possibly erroneous. There is still a need for a theory of strategy that will offer better application and guidance for practitioners. Analogies are drawn from the new science of complexity for identifying and shaping strategic decisions. Copyright © 2000 John Wiley & Sons, Ltd