Naslov
Influence of a Company’s Dynamic Capabilities on the Innovation of Its Corporate Business Model

Autori
Galetić, Lovorka ; Vukelić, Željko

Izvornik
The Journal of American Academy of Business, Cambridge (1540-7780) 23 (2017), 1; 75-82

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, ostalo

Ključne riječi
Dynamic Capabilities, Corporate Business Model

Sažetak
It is evident that applying advanced concepts of strategic and innovation management of a company's capabilities, and achieving their mutual alignment to achieve a synergy effect has become an exceptionally important factor for business success. On markets characterized by a range of competitive pressures, the resulting opportunities and threats have raised innovation to the top of the priority list for company management, and proactive management is largely based on agility and taking rapid and carefully conceived business activities. This has stressed that the company's dynamic capabilities, as a business concept, are deserving of greater attention. This paper presents a novel and specific model of company dynamic capabilities and the innovation of the business model, with an emphasis on innovating the corporate model. These capabilities can be identified, measured and applied in operations to improve company performance and to create new business solutions. Dynamic capabilities are presented here through a new model, based on the significant scientific literature and adapted to meet the needs of modern business. The analysis of innovation of the corporate model is based on a new concept of observing the capability to innovate the corporate model, and its segments are presented. An empirical study was performed on a representative sample to test the proposed model and to examine the influence of dynamic capabilities on innovating the corporate business model. The correlation test results confirmed a strong association between the possession of dynamic capabilities with the existence of the capability to innovate the corporate business model. This enables the practical business use of these models, and serves as a basis for future research on this topic. The 21st century has been marked with rapid change in the fields of technology, global connectivity, and the rate and intensity of change itself. Competition is greater and stronger, and companies need to seek out creative solutions and new means of business thinking, now more than ever before (Ernst & Young, 2012). In today's turbulent times, it has been widely recognized that the use of advanced concepts of strategic and innovative management in the field of company capabilities, and attaining their mutual alignment to achieve a synergy effect, isan exceptionally important factor for business success. On a market faced with a range of competitive pressures, the resulting opportunities and threats have raised innovations to the top of the priority list for top executive management (Byrne, Lubowe and Blitz, 2007), and the need for a proactive means of management is based on agility and taking rapid and well-conceived business activities. This has stressed that the concept of dynamic capabilities is deserving of greater attention. In line with the importance of both of these domains, this paper examines the dynamic capabilities and innovative capabilities of a company, with emphasis on innovation of the business model, and a focus on corporate operations. A new model of company dynamic capabilities and innovation of the business model is presented, with a detailed analysis of the innovation of the corporate model and an overview of their mutual effects. Dynamic capabilities are defined as the ability of a company to reconfigure, redirect, transform and appropriately shape and integrate its existing key competencies with external resources and strategic and complementary assets, so as to respond to the challenges posed by a business world marked by competition and imitation, rapid changes and time limitations (Teece, Pisano and Shuen, 1997).

Izvorni jezik
Engleski

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