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Comments on Gary Pisano: “toward a prescriptive theory of dynamic capabilities”

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  • William Lazonick

Abstract

I address the question of productive capabilities and competitive advantage in ways that differ markedly from the approach that Pisano lays out in his essay under review. In commenting on the Pisano article, I outline the roles of perspective, theory, and methodology in my research in the hope of broadening and deepening the dynamic-capabilities debate.

Suggested Citation

  • William Lazonick, 2018. "Comments on Gary Pisano: “toward a prescriptive theory of dynamic capabilities”," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 27(6), pages 1165-1174.
    • Handle: RePEc:oup:indcch:v:27:y:2018:i:6:p:1165-1174.
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    References listed on IDEAS

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    1. Marie Carpenter & William Lazonick & Mary O’ Sullivan, 2003. "The stock market and innovative capability in the New Economy : the optical networking industry," Post-Print hal-02447314, HAL.
    2. Lazonick, William, 2010. "Innovative Business Models and Varieties of Capitalism: Financialization of the U.S. Corporation," Business History Review, Cambridge University Press, vol. 84(4), pages 675-702, January.
    3. Lazonick, William H., 1981. "Production Relations, Labor Productivity, and Choice of Technique: British and U.S. Cotton Spinning," The Journal of Economic History, Cambridge University Press, vol. 41(3), pages 491-516, September.
    4. Matthieu Montalban & Mustafa Erdem Sakinç, 2013. "Financialization and productive models in the pharmaceutical industry," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 22(4), pages 981-1030, August.
    5. William Lazonick & Andrea Prencipe, 2005. "Dynamic capabilities and sustained innovation: strategic control and financial commitment at Rolls-Royce plc," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 14(3), pages 501-542, June.
    6. Lazonick, William, 2002. "Innovative Enterprise and Historical Transformation," Enterprise & Society, Cambridge University Press, vol. 3(1), pages 3-47, March.
    7. William Lazonick, 2010. "Innovative Business Models and Varieties of Capitalism: Financialization of the U.S. Corporation," Business History Review, Harvard Business School, vol. 84(4), pages 675-702, December.
    8. Lazonick William, 2009. "The New Economy Business Model and the Crisis of U.S. Capitalism," Capitalism and Society, De Gruyter, vol. 4(2), pages 1-70, October.
    9. William Lazonick, 2009. "Sustainable Prosperity in the New Economy? Business Organization and High-Tech Employment in the United States," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number spne, November.
    10. Marion Fourcade & Rakesh Khurana, 2017. "The Social Trajectory of a Finance Professor and the Common Sense of Capital," Post-Print hal-03458689, HAL.
    11. Marie Carpenter & William Lazonick & Mary O'Sullivan, 2003. "The stock market and innovative capability in the New Economy: the optical networking industry," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 12(5), pages 963-1034, October.
    12. Lazonick, William & Tulum, Öner, 2011. "US biopharmaceutical finance and the sustainability of the biotech business model," Research Policy, Elsevier, vol. 40(9), pages 1170-1187.
    13. Öner Tulum & William Lazonick, 2018. "Financialized Corporations in a National Innovation System: The U.S. Pharmaceutical Industry," International Journal of Political Economy, Taylor & Francis Journals, vol. 47(3-4), pages 281-316, October.
    14. repec:hal:spmain:info:hdl:2441/3526bm80ns8g5bq8u475u4cbpd is not listed on IDEAS
    15. William Lazonick, 2016. "Innovative Enterprise or Sweatshop Economics?: In Search of Foundations of Economic Analysis," Challenge, Taylor & Francis Journals, vol. 59(2), pages 65-114, March.
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    More about this item

    JEL classification:

    • D2 - Microeconomics - - Production and Organizations
    • G3 - Financial Economics - - Corporate Finance and Governance
    • J5 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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