Adaptabilityand renewability are vital capabilities that will enable theanalytical companies to be competitive in the market by ensuring thatthe firms’ innovations are created from time to time as well asremain sustainable while delivering the goals of the business.Adaptability will make sure that the company can stay competent inthe market despite the changes that are taking place in the businessworld. Businesses will be flexible enough to switch to the line ofoperation that captures the attention of the customers through themodern innovations that are implemented by the leading companies(Steiber, 2012).
Dynamiccapabilities range from the use of technology to the kind of feedbackthat exists between the lines of distribution of products from thecompany to the consumer. The managers of the firms will advance tothe use of e-technology that will ensure that integration of businesstransactions is possible. The relationship between the buyers andsellers will be investigated by use of the IT level and necessarychanges made. If the most recent technologies are employed, the firmscan quickly achieve the integrated supply chain management, and itsproducts will reach the desired destination within the stipulatedperiod (Kim, 2012).
Thedynamic managerial capabilities not only facilitate the adaption andmaking necessary changes to cope with the competition in the market,but ensure that the management act in a quick manner in sensing theopportunities that are emerging in the market and take the necessarysteps to seize them. The managers will as well ensure that thedecisions they make align with the needs of their customers globally.This will help them minimize the threats posed by the competitors inthe market and continue enjoying their share of clients in the marketas well as attract more. The capabilities will also enable them totake the correct steps where the markets are highly differentiated(Devinney, Coltman, and Richard, 2012).
Devinney,T.M., Coltman, T & Richard, P.J. (2012). AligningFirm Capabilities with Customer Needs: Unpacking Dynamic ManagerialCapabilities,Retrieved from http://dx.doi.org/10.2139/ssrn.2036617 on August 9,2016.
Kim,S.W. (2012). An Investigation of Information Technology Investmentson Buyer-Supplier Relationship and Supply Chain Dynamics. AsianJournal on Quality, 13(3),250-267. Retrieved from http://dx.doi.org/10.1108/15982681211287793on August 9, 2016
Steiber,A. (2012). OrganizationalInnovations: A Conceptualization of how they are Created, Diffused,and Sustained,Retrieved fromhttp://publications.lib.chalmers.se/records/fulltext/156232.pdf onAugust 9, 2016.