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Strategy as Evolution with Design: The Foundations of Dynamic Capabilities and the Role of Managers in the Economic System

Mie Augier

Stanford University, USA, augier{at}stanford.edu

David J. Teece

University of California, Berkeley, USA, teece{at}haas.berkeley.edu

This paper discusses the intellectual roots of the dynamic capabilities framework. We draw on insights from Edith Penrose as well as others in order to help explain the essence of the business enterprise, and how it can escape the zero profit trap. We see the business enterprise as being in part a product of its own history, but not completely so. Managers can shape outcomes and are not completely trapped by prior decisions and investments. We call this `evolution with design', leaving room for both evolutionary processes as well as intentional design. This conclusion is consistent with Penrose's contributions to the theory of the firm.

Key Words: dynamic capabilities • Edith Penrose • evolutionary processes • international design • management

Organization Studies, Vol. 29, No. 8-9, 1187-1208 (2008)
DOI: 10.1177/0170840608094776
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C. N. Pitelis
The Co-Evolution of Organizational Value Capture, Value Creation and Sustainable Advantage
Organization Studies, October 1, 2009; 30(10): 1115 - 1139.
[Abstract] [PDF]