Meaning ● Dynamic Capability Enhancement refers to a structured approach where Small and Medium-sized Businesses (SMBs) actively identify, develop, and refine their ability to adapt to changing market conditions and technological advancements. In the context of SMB growth, it involves strategically implementing automation solutions to streamline operations, improve efficiency, and foster innovation. ● This entails a continuous process of learning, adaptation, and reconfiguration of resources and processes to better seize opportunities and defend against threats. The goal is to ensure sustained competitive advantage, not just short-term gains, even in turbulent environments where agility is vital. ● Practical application within SMBs can include adopting new software for customer relationship management, or adapting supply chain strategies to mitigate disruptions, always focused on long-term value creation. It should also consider evolving consumer needs, with capability development being flexible.
