Dynamic managerial capabilities concepts are the capabilities that managers employ to create, extend, and modify the methods that help the company or an individual to earn a living. This paper is a list of various definitions, constructs and variables of the concept that can be used to create a conceptual framework. They include both those of individual and organizational levels.
There are three underpinnings that offer the ability to manage strategic change. These are:
Managerial human capital.
Managerial social capital.
There are various definitions that have been brought forward to explain the concept of dynamic managerial capabilities. These are as discussed below.
The capabilities that help individual or firm managers to construct, integrate, and reconfigure institutional or individual competences.
The capacity of individuals and firms to form, expand, or adjust the resource center in an individual or the firm.
The concept can further be expanded to suggest that they affect not only the internal characteristics of an institution but also its external setting.
Asset orchestration- Asset orchestration entails various sub-divisions of dynamic managerial capabilities variables. These are the quest for resources and capabilities, selecting them, investment, their utilization, and realignment.
The other variables of this concept have been separated from the micro foundations of dynamic potentials. These are the ability to:
Sense possible threats and opportunities in the organization or at an individual level.
Seize opportunities by selecting from the possible actions, investments made, and utilizing resources.
Reconfiguration and transformation of organizations and individuals taking into considerations their capabilities and resources.
Dynamic managerial potentials have significant characteristics that attribute capabilities in a more general manner. These capabilities are critical in entrepreneurship, both by an individual or an organization.
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