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Capability Management In Business
Capability management is the approach to the management of an organization, typically a business organization or firm, based on the "theory of the firm" as a collection of capabilities that may be exercised to earn revenues in the marketplace and compete with other firms in the industry. Capability management seeks to manage the stock of capabilities within the firm to ensure its position in the industry and its ongoing profitability and survival. Prior to the emergence of capability management, the dominant theory explaining the existence and competitive position of firms, based on Ricardian economics, was the resource-based view of the firm (RBVF). The fundamental thesis of this theory is that firms derive their profitability from their control of resources – and are in competition to secure control of resources. Perhaps the best-known exposition of the Resource-based View of the Firm is that of one of its key originators: economist Edith Penrose. "Capability management" may ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theory Of The Firm
The theory of the firm consists of a number of economic theories that explain and predict the nature of the firm, company, or corporation, including its existence, behaviour, structure, and relationship to the market. Firms are key drivers in economics, providing goods and services in return for monetary payments and rewards. Organisational structure, incentives, employee productivity, and information all influence the successful operation of a firm in the economy and within itself. As such major economic theories such as Transaction cost theory, Managerial economics and Behavioural theory of the firm will allow for an in-depth analysis on various firm and management types. Overview In simplified terms, the theory of the firm aims to answer these questions: # Existence. Why do firms emerge? Why are not all transactions in the economy mediated over the market? # Boundaries. Why is the boundary between firms and the market located exactly there in relation to size and output variety? ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dimensions Of A Core Capability
In physics and mathematics, the dimension of a mathematical space (or object) is informally defined as the minimum number of coordinates needed to specify any point within it. Thus, a line has a dimension of one (1D) because only one coordinate is needed to specify a point on itfor example, the point at 5 on a number line. A surface, such as the boundary of a cylinder or sphere, has a dimension of two (2D) because two coordinates are needed to specify a point on itfor example, both a latitude and longitude are required to locate a point on the surface of a sphere. A two-dimensional Euclidean space is a two-dimensional space on the plane. The inside of a cube, a cylinder or a sphere is three-dimensional (3D) because three coordinates are needed to locate a point within these spaces. In classical mechanics, space and time are different categories and refer to absolute space and time. That conception of the world is a four-dimensional space but not the one that was found necessar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Ministry Of Defence
The Ministry of Defence (MOD or MoD) is the department responsible for implementing the defence policy set by His Majesty's Government, and is the headquarters of the British Armed Forces. The MOD states that its principal objectives are to defend the United Kingdom of Great Britain and Northern Ireland and its interests and to strengthen international peace and stability. The MOD also manages day-to-day running of the armed forces, contingency planning and defence procurement. The expenditure, administration and policy of the MOD are scrutinised by the Defence Select Committee, except for Defence Intelligence which instead falls under the Intelligence and Security Committee of Parliament. History During the 1920s and 1930s, British civil servants and politicians, looking back at the performance of the state during the First World War, concluded that there was a need for greater co-ordination between the three services that made up the armed forces of the United Kingdom: the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Virtual Enterprise
A virtual enterprise (VE) is a temporary alliance of businesses that come together to share skills or core competencies and resources in order to better respond to business opportunities, and whose cooperation is supported by computer networks. It is a manifestation of distributed collaborative networks. A virtual enterprise is a particular case of virtual organization. Virtual enterprises have become increasingly common in the area of research and development, with often far-flung organizations forming alliances that amount to a "Virtual Research Laboratory." Vassiliou (2007) outlined a broad continuum of possible virtual laboratory relationships, ranging from relatively simple outsourcing by a central organization to tightly knit consortia of collaborating entities. Definitions Several definitions include: * "…a temporary network of independent institutions, businesses or specialised individuals, who work together in a spontaneous fashion by way of information and commun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Technology Strategy
Technology strategy (information technology strategy or IT strategy) is the overall plan which consists of objectives, principles and tactics relating to use of technologies within a particular organization. Such strategies primarily focus on the technologies themselves and in some cases the people who directly manage those technologies. The strategy can be implied from the organization's behaviors towards technology decisions, and may be written down in a document. The strategy includes the formal vision that guide the acquisition, allocation, and management of IT resources so it can help fulfill the organizational objectives. Other generations of technology-related strategies primarily focus on: the efficiency of the company's spending on technology; how people, for example the organization's customers and employees, exploit technologies in ways that create value for the organization; on the full integration of technology-related decisions with the company's strategies and opera ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Technology Management
Technology management is a set of management disciplines that allows organizations to manage their technology, technological fundamentals to create customer advantage. Typical concepts used in technology management are: * Technology strategy (a logic or role of technology in organization), * Technology forecasting (identification of possible relevant technologies for the organization, possibly through technology scouting), * Technology roadmap (mapping technologies to business and market needs), and * Technology project portfolio (a set of projects under development) and technology portfolio (a set of technologies in use). The role of the technology management function in an organization is to understand the value of certain technology for the organization. Continuous development of technology is valuable as long as there is a value for the customer and therefore the technology management function in an organization should be able to argue when to invest on technology development ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
System-of-Systems Engineering
System of systems is a collection of task-oriented or dedicated systems that pool their resources and capabilities together to create a new, more complex system which offers more functionality and performance than simply the sum of the constituent systems. Currently, systems of systems is a critical research discipline for which frames of reference, thought processes, quantitative analysis, tools, and design methods are incomplete. The methodology for defining, abstracting, modeling, and analyzing system of systems problems is typically referred to as system of systems engineering. Overview Commonly proposed descriptions—not necessarily definitions—of systems of systems, are outlined below in order of their appearance in the literature: # Linking systems into joint system of systems allows for the interoperability and synergism of Command, Control, Computers, Communications and Information (C4I) and Intelligence, Surveillance and Reconnaissance (ISR) Systems: ''description in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dynamic Capabilities
In organizational theory, dynamic capability is the capability of an organization to purposefully adapt an organization's resource base. The concept was defined by David Teece, Gary Pisano and Amy Shuen, in their 1997 paper ''Dynamic Capabilities and Strategic Management'', as "the firm’s ability to integrate, build, and reconfigure internal and external competences to address rapidly changing environments". The term is often used in the plural form, dynamic capabilities, emphasizing that the ability to react adequately and timely to external changes requires a combination of multiple capabilities. Overview The phrase "dynamic capabilities" was introduced in a working paper by David Teece, Gary Pisano, and Amy Shuen. The final, peer-reviewed version was published in 1997. The idea of dynamic capabilities is similar in some ways to the previously existing concept of operational capabilities; the latter pertains to the current operations of an organization, whereas the former, by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Teece
David John Teece (born September 2, 1948) is a New Zealand-born US-based organizational economist and the Professor in Global Business and director of the Tusher Center for the Management of Intellectual Capital at the Walter A. Haas School of Business at the University of California, Berkeley. Teece is also the executive chairman and cofounder of Berkeley Research Group, an expert services and consulting firm headquartered in Emeryville, California. His areas of interest include corporate strategy, entrepreneurship, innovation, competition policy, and intellectual property. He is also founding general partner of a venture capital firmPilatus Capital Biography Teece grew up in Blenheim and Nelson, New Zealand and attended Waimea College before enrolling in 1967 at the University of Canterbury in Christchurch (now the site of the Christchurch Arts Centre), where he earned a bachelor's degree and a Master of Commerce degree. He moved to the United States to attend the Wharton ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tacit Knowledge
Tacit knowledge or implicit knowledge—as opposed to formal, codified or explicit knowledge—is knowledge that is difficult to express or extract, and thus more difficult to transfer to others by means of writing it down or verbalizing it. This can include personal wisdom, experience, insight, and intuition. For example, knowing that London is in the United Kingdom is a piece of ''explicit'' knowledge; it can be written down, transmitted, and understood by a recipient. In contrast, the ability to speak a language, ride a bicycle, knead dough, play a musical instrument, or design and use complex equipment requires all sorts of knowledge which is not always known ''explicitly'', even by expert practitioners, and which is difficult or impossible to explicitly transfer to other people. Overview Origin The term tacit knowing is attributed to Michael Polanyi's ''Personal Knowledge'' (1958). In his later work, ''The Tacit Dimension'' (1966), Polanyi made the assertion that "we can ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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