Geopolitical Uncertainties, Dynamic Capabilities, and Technology Management

David Teece delivered a talk at the National University of Singapore on geopolitical uncertainties, dynamic capabilities, and technology management.

Since 1945 and until recently, business executives have built and managed large enterprises in a relatively stable governance system abiding by international law. But the global commons has become tattered, requiring management and boards to change their mental models and best practices. Security of supply and resilient supply chains have again become a priority, meaning that efficiency and cost may now be secondary in some important instances, particularly in the technology space.

Business enterprises no longer need just strong operating/ordinary capabilities. Rather, they need dynamic capabilities that enable corporations to sense, seize, and transform with dispatch. This requires an entrepreneurial style of management, even in large companies, together with close coordination between business and government.