6 Nov: 5th Charles Cooper Memorial Lecture at UNU-MERIT – Dynamic Capability: The concept and how it helps us understand economic change

Speaker: Sidney G. Winter, Deloitte & Touche Professor of Management, Emeritus, The Wharton School, University of Pennsylvania, USA

Lecture Abstract
Dynamic capability is a concept that arose from the field of Strategic Management, or “strategy”, an academic field largely practised in business schools. It emerged in the quest to understand the basis of “sustainable competitive advantage”. In other words:

How can a business make money and keep doing so for a long time?
How can advantage be sustainable in the face of continuing change?

Dynamic capability is offered as an answer to these questions. By virtue of its relevance to the phenomena of economic development in a market system, dynamic capability is a concept that should be of interest to related fields, particularly innovation studies, the economics of growth and development, and organization studies.

Academic specialization has hindered the development of fruitful cross-field collaboration centred on dynamic capability. The counter-force to that tendency comes from evolutionary economics, which speaks with one voice to these different fields – although that one voice tends to be heard in different and field-specific ways.

This lecture will explain the concept and the fundamental questions about change that it presents. It seeks to strengthen the bridges from Strategic Management to the related fields, starting from the business end of those bridges. Incidental to that, it addresses the question of how investment in dynamic capability affects business profitability.

Overall, the lecture argues that dynamic capability, appropriately handled, is actually transformative of our understanding of economic change.

Sidney G. Winter, Deloitte & Touche Professor of Management,
Emeritus, The Wharton School, University of Pennsylvania, USA

Speaker Profile
Sidney Graham Winter (born 1935, Iowa City, Iowa) is a US economist and professor emeritus of management and technological change at the University of Pennsylvania. He is one of the leading figures in the revival of evolutionary economics and has published various papers together with Richard R. Nelson. Winter was Chief Economist of the US General Accounting Office between 1989 and 1993 and is Vice President of the International JA Schumpeter Society since 2005

This lecture will be recorded in HD video, available on UNU-MERIT’s YouTube channel shortly after the event: www.youtube.com/user/UNUMaastricht

Register for the lecture >>


5th Charles Cooper memorial lecture

Date & Time:
Wednesday, 6 November, 2013, 16h00-17h30

Conference Room
Keizer Karelplein 19
6211 TC Maastricht
the Netherlands

More information: info@merit.unu.edu



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