From an analytical perspective, dynamic capabilities can be disaggregated
into three classes (1) sensing capability; (2) seizing capability; and (3)
reconfiguring capability (Teece, 2007; 2009) (1) Sensing capability: in order to
identify opportunities, firms need to continuously scan their environments and
search for opportunities that are constantly opening up, inside and outside the
firm’s boundaries. Typical activities or practices that comprise sensing
capability are activities of scanning for new inventors or exploring market
needs, practices in the R&D process that enable the creation of new or
improved knowledge, activities that result in understanding technological
transformation, etc. (2) Seizing capability: when opportunities are sensed, they
then need to be seized and their value and potential have to be recognized.
Seizing capability means selecting the ‘right’ technology or recognizing the
target customers. (3) Reconfiguring capability: when opportunities are sensed
and seized, then they need to be reconfigured. Reconfiguring capability means
the ability to recombine and reconfigure the resource base to address changes
and opportunities in the firm's environment.