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). The original definition of dynamic capability offered by Teece and his colleagues affords some important insights in this task. They defined dynamic capability as ‘the firm’s ability to integrate, build and reconfigure internal and external competences to address rapidly changing environments’ ( Teece et al., 1997 : 516). This definition is built around a number of key elements. First, this approach emphasises the central importance of strategicmanagement illuminating that the dynamic capabilities perspective is intertwined with strategic managerial capabilities
the strategicmanagement literature ( Hoskisson et al., 1999 ). I will broadly refer to this lens as the managerial view of the firm, incorporating the RBV, the KBV and dynamic capabilities. There is an extensive body of literature on theories of the firm, and a detailed review is beyond the scope of this study. What follows is a brief overview of these incumbent theories to support the argument that they require to be supplemented by an IBV considering the significant changes in the nature of the firm driven by the opening of its boundaries chiefly through advances