A snapshot of the dynamic capabilities approach from the firm to the network: the debate and its gaps

In today’s global context, firm’s competitive surrounding changes rapidly through processes of both internal and external innovation. In order to quickly respond, anticipate or even provoke changes in the global competitive set, firms must dynamically and rapidly use their resource configuration in reconfiguring, adapting and recreating internal and external resources (Teece et al, 1997; Winter, 2003; Teece, 2007). The concept of dynamic capabilities (DC) provides an integrative approach to the Resource-based Theory (RBT - Penrose, 1959; Barney, 1991, Grant1991, Peteraf, 1993; Wernerfelt, 1984) since it explains how firm can exploit/explore and even generate entrepreneurial opportunities in a volatile and hypercompetitive environment (D’Aveni, 1994). Therefore, this paper attempts to explore the role of dynamic capabilities (DC) in the light of firm value creation. This concept recalls firm’s competitiveness not only in terms of financial performance but also with regard to its main stakeholders, both internal and external. In this direction, Ambrosini and Bowman (2009) argue that “dynamic capabilities impact firm value creation via their impact on the resource base”.