Focusing on a firm level analysis, RBV suggests that differences in firms’ capability are primarily the result of resource heterogeneity across firms (Peteraf, 2006). Firms that can accumulate resources and capabilities that are rare, valuable, no substitutable, and imperfectly imitable will achieve an advantage over competitors (Barney, 1996). A distinction is normally made between resources and capabilities, in that "resources are stocks of available factors that are owned or controlled by the organization and capabilities are an organization’s capacity to deploy resources" (Freiling, 2008). Resources tend to be tradable in markets and can be divided into tangible assets, such as financial and physical capital, and intangible assets, such as human and organizational capital (Barney, 1986). By contrast, capabilities reside in routines that are intrinsically intangible and embedded in the firm, and thus cannot be traded on factor markets (Kogut & Zander, 1992).
Drawing on the evolutionary theory of a firm, the innovation capabilities approach to a firm emerged as an extension of RBV. Specifically the processes to integrate, reconfigure, gain and release resources, use resources to match and even create market change (Eisenhardt & Martin, 2000). Moreover, they are vital to gaining and sustaining a competitive advantage in industries where both technology and the market change (Verona & Ravasi, 2003). As such, they are considered as antecedent organizational and strategic routines that enable managers to acquire resources, which they then modify, integrate, and recombine to generate new value creating strategies. Eisenhardt and Martin (2000), and Zahra and George (2002) maintain that a firm’s routines or processes and organization culture and information technology advance can form unique innovation capabilities which allow the organization to make strategic changes that give it the flexibility to operate in innovation markets. Lawson and Samson (2001) applied an innovation capabilities approach to the investigation of innovation. Many authors highlighted the differences between an organization’s well established or mainstream activities and its innovative or new stream activities (Badawy, 1993). Lawson and Samson (2001) proposed a model that operationalizes this global innovation capability as seven elements: vision and strategy; harnessing the competence base; organizational intelligence; creativity and ideas management; organizational structure and systems; culture and climate; and management of technology. The concept of innovation capabilities proved useful in some other marketing areas. Previous studies considered their use in the analysis of a firm’s international expansion (Griffith & Michael, 2001; Grant, 1996), while Hart and Sharma (2004) analyzed the capabilities required to address the challenges of globalized and rapidly changing markets.
Within a few decades, geneticists determined that quantitative characters are influenced by multiple genetic loci and that the alleles at each locus follow Mendelian laws of inheritance.
Innovation has rapidly assumed a position of prominence in world competition on a global scale. To compete in this environment, organizations need a level of innovation. As competition becomes more global and time-based, organizations must develop and deliver new and superior products or services in less time. The challenge for modern organizations is to revitalize them so they can successfully and continuously develop newer products and enhance business development.
The thought of evolution is filled with theories, ideas and beliefs. The definition of evolution is rather simple. According to Jerry A. Coyle, evolution is “the change in the inherited characteristics of biological populations over successive generations (2). Evolution gives rise to diversity when it comes to the hierarchy of life otherwise known as biological organization. Many people find the topic of evolution to be troubling and very confusing. Throughout history churches have preached that evolution is atheistic and a sin if even thought about. Famous scientist, Charles Darwin, is said to really be the first to formulate debated theory of evolution by the means of natural selection. Eventually in the 20th century genetics was compounded with Charles Darwin’s theories of evolution. Even today scientists continue to study different aspects of the theory of evolution.
Pitts and Koufopoulos (2012) argue that resources and capability are highly important internal factors that should be taken into account by the organization in order to obtain the successful performance in the long run.
How life came to be is a mystery that baffled the minds of even the smartest researchers. Although the researchers found no definite answers throughout the centuries, they had created many theories that could explain the origin of modern organisms. Evolution is a prominent theory among others, as supported by ancient ancestry, fossil evidence, and genetics. Evolution is the correct theory because the evidence, which is ancestry, fossil evidence, and genetics, proves evolution to have a solid argument.
It is also perhaps not feasible to evaluate the attractiveness of an industry independent of the resources a firm brings to that industry. It is thus argued that this theory be coupled with the Resource-Based View (RBV) in order for the firm to develop a much more sound strategy. It provides a simple perspective for accessing and analysing the competitive strength and position of a corporation, business or organisation.
The book has used peer-reviewed resources to enhance the use of professional approaches to innovation and management strategies by the readers who uses the book. The authors have given different management strategies and their practical application in business fields. As the title states, a strategy in business require innovative strategies for efficient development of the firm. More importantly, the book offers modern innovative ideas that need to be integrated with management strategies to develop modern businesses. The innovative approach provides a practical guide to the management strategies easing the execution of the strategies in the respectful environment. The book has given the strong relationships between innovation and strategies. These relationships are known to increase profitability in business organizations that use them efficiently. It offers how business managers can create successful value through innovation. Value creation in companies is done through examining untapped markets, clients ' needs and investing in new businesses. Therefore, this remarkable book helps readers in innovating and managing business
The evolution theory, one of the most significant theories, laid groundwork for the study of modern biological science. This theory has lead scientists into unending debates due to lack of empirical supports. Until the mid-eighteenth century, when Charles Darwin came up with an explanation to evolution, scientists, then, began to endorse this hypothesis. In “Natural Selection,” Darwin explains the natural selection, a plausible mechanism that causes evolution, to gain approval of his cynical audience for his evolution theory. He supports his claim with numerous examples of animals and plants that have developed traits beneficial for survival. A century later, Stephen Jay Gould, influenced by Darwin’s work, supports the evolution theory with a different method. In “Evolution as Fact and Theory,” Gould, in contrast to Darwin, criticizes his detractors, the creationists who believe that every life form is the creation of a supernatural being, to reinforce the validity of the evolution theory. Gould undermines creationism by emphasizing its misused concepts of theory and popular philosophy, proving that it is not science. Besides denouncing creationism, Gould also provides theoretical examples as evidence to prove evolution is a theory. Despite their different approaches, both Darwin and Gould effectively prove the existence of evolution.
Resources are organization’s productive assets and capabilities are what an organization is capable of doing. The relationship between resources and capabilities of a company forms a competitive advantage. Capabilities and resources help in gaining value and competitive advantage over competitors.
This strategy emphasizes the use of an organization’s resources and capabilities to achieve a core competence that cannot be imitated by competitors. Furthermore, the resource based school argues that if an organization distinctively improves its internal capability; that is being able to have effective inside machinery to deliver products and services to customers, the organization will enjoy a massive advantage in the market. This school also argues that in order to have a competitive advantage, an organization must have resource and capabilities that are sophisticated to those of competitors (QuickMBA, 2010).
Biological evolution is the name for the changes in gene frequency in a population of a species from generation to generation. Evolution offers explanation to why species genetically change over years and the diversity of life on Earth. Although it is generally accepted by the scientific community, Charles Darwin’s theory of evolution has been studied and debated for several decades. In 1859, Darwin published On The Origin of Species, which introduced the idea of evolutionary thought which he supported with evidence of one type of evolutionary mechanism, natural selection. Some of the main mechanisms of evolution are natural selection, mutation, and genetic drift. The idea that all life on Earth shares a common ancestor has been around for a long time but has risen to significance in society over the last two centuries.
Firstly, there is a need to focus on the company competitive dimensions before embarking on the decisions. In this aspect, the Competitive capabilities are the Cost, Quality, Time, and Flexibility dimensions that a process or value chain actually processes and is able to...
Without evolution, and the constant ever changing environment, the complexity of living organisms would not be as it is. Evolution is defined as a process that results in heritable changes in a population spread over many generations (8).Scientists believe in the theory of evolution. This belief is based on scientific evidence that corroborates the theory of evolution. In Figure 1 the pictures of the skulls depict the sequence of the evolution of Homo-sapiens. As the figure shows, man has evolved from our common ancestor that is shared by homo-sapiens. The change of diet of homo-sapiens over time has thought to contribute to the change in jaw structure and overall skull shape.
Innovation may be defined as exploiting new ideas leading to the creation of a new product, process or service. It is not just the invention of a new idea that is important, but it is actually