ADMS 4900 Lecture Notes - Lecture 4: Peter Drucker, Dynamic Capabilities, Critical Role

• School: York University
• Department: Administrative Studies
• Course: ADMS 4900
• Professor: Jon Kerr

Document Summary

Critical contributions to a firm"s competitive advantage = technology, knowledge & human capital (including brand names and trademarks) Important for all firms to critically assess their intellectual assets and how they are vitally connected to value creation activities. Peter drucker economy; far more valuable than material or financial resources for the long term prosperity of a country and its firms. Knowledge workers + knowledge they possess = primary resource of. Resource based economies success depends on the ability of individual firms to create technological innovations that transform raw materials into valuable goods. tapping into the social contacts of existing owners and employees; Finding new talent intricate networks of relationships allow the screening and selection of suitable candidates. Individuals often have more loyalty to their peers, including those in competing firms than they do to their current employer social network becomes even more crucial. Individuals typically do not work for the same company for a lifetime.