Lecture 2

Question 1

What are three lenses through which you can look at dealing with uncertainty?

Answer 1

1. Environmental Dynamism
2. Dynamic Capabilities
3. Organizational Resilience

Question 2

What is meant by Environmental Dynamism?

Answer 2

The rate of change in environmental factors over time, including technologies, markets, competitors and customers.

Before, environmental factors wore more stable (less globalization, less disruption, less technology etc.). Then, Porter and RBV were good ways to look at how a company can increase competitive advantage.

Now, the environment is more turbulent and rapidly changing. Dynamic Capabilities are the way to go.

Question 3

What is meant by dynamic capabilities?

Answer 3

More intangible capabilities across skills, processes, procedures, structures and decisions.

These capabilities promote digital sensing and digital seizing to allow for the reconfiguration of an organizations capabilities (digital transformation)

The dynamic capabilities will be a source of sustainable advantage.

Question 4

What are the three digital dynamic capabilities?

Answer 4

1. Digital Sensing
2. Digital Seizing
3. Digital Transformation

Question 5

What is meant by digital sensing?

Answer 5

The ability to detect digital opportunities and uses that might add value to the operations or create new value streams.

Digital scouting, digital scenario planning, digital mindset creation.

Question 6

What is meant by digital seizing?

Answer 6

Actually capture the sensed opportunities and experiment/use them.

Rapid prototyping, managing your digital portfolio, strategic agility.

Question 7

What is meant by digital transforming?

Answer 7

The reconfiguration of an organization’s capabilities to better be able to create value, create value in new ways, improve, implement and facilitate for new technologies.

Includes redesigning internal structures, collaborating in innovation ecosystems and improving digital maturity.

Question 8

What is the end goal of dynamic capabilities>

Answer 8

• New, improved business models
• Collaborative approach
• Improved (digital) culture

Question 9

What is an influence on a companies ability to create dynamic capabilities?

Answer 9

Internal enables and internal barriers

Question 10

What are three factors that help determine an organizations distinctive competences and dynamic capabilities?

Answer 10

1. Processes
   (a firm’s organizational and managerial ways of working)
2. Positions
   Portfolio of assets
3. Paths
   Strategic alternatives available to a firm and the absence or presence of increasing returns

Capabilities of a firm are influenced by their path dependency.

Question 11

What type of resilience do you want to strive for as a company?

Answer 11

Adaptability (resilience)

Includes ambidexterity:
Resilience through leveraging your existing resources while simultaneously exploring new capabilities.

Question 12

What are the key takeaways of HRO’s?

Answer 12

• Every, even small, failures must be noticed to prevent mistakes
• Don’t put everything in a category, look at each individual problem
• When implementing change -> look at the whole process. A new solution might impact other aspects
• Use the highest level of expertise, not rank
• Encourage individual initiatives to foster improvements.