1. What contributions have the authors mentioned in the paper "Dynamic capabilities and entrepreneurial management in large organizations: toward a theory of the (entrepreneurial) firm" ?
For example, this paper found that the probability that a firm in the top quartile of profitability in any given year would remain in that quartile for the following year has declined more than a third from 22 % to about 14 %.
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2. What future works have the authors mentioned in the paper "Dynamic capabilities and entrepreneurial management in large organizations: toward a theory of the (entrepreneurial) firm" ?
As a consequence of their heterogeneous organizational histories and differing managerial capabilities, firms vary not only in their efficiency with respect to production possibilities, but also in terms of the effectiveness with which they can develop and implement business plans, and the speed with which the can modify their activities.. Diversification is not just a matter of increasing market power or managerial self-aggrandizement ; it is, ideally, the product of a ( boundedly rational ) strategic analysis that balances ( present and potential ) capabilities and ( perceived and calibrated ) opportunities.. The economic theory of the firm can be less of a caricature if it can embrace the idiosyncratic characteristics of managers and organizational processes.. For policy makers, a deeper understanding of the origins and evolution of organizational capabilities will help to predict likely business responses to policy changes.
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3. What is the visible feature of the firm’s dynamic capabilities?
At critical junctures for the organization, the ability of a CEO and the top management team to have insight into key developments and trends, delineate a response, and then reallocate resources to lead the firm in its path forward, is likely to be the most visible feature of the firm’s dynamic capabilities.
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4. Why did Smith have to be forgiven?
Smith can be forgiven because, apart from the military and the Church, there were no large organizations to observe, and the Industrial Revolution was in its infancy.
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