Teece Model

The Teece Model, developed by economist David Teece, focuses on how companies create value through their resources and capabilities. It emphasizes the importance of "dynamic capabilities," which are a firm's ability to adapt, innovate, and respond to changes in the market. The model suggests that businesses can achieve a competitive advantage by effectively combining their resources—like technology, skills, and knowledge—with market opportunities. In essence, it highlights that success isn't just about having resources but also about how well a company can leverage and transform them to meet evolving demands and challenges.