Fundamentals

Small businesses, the lifeblood of any economy, often operate under the myth of unchanging stability, yet the marketplace relentlessly evolves. Consider the local bookstore that once thrived on community foot traffic, now facing the digital tide of e-commerce giants; their struggle highlights a critical point ● stasis is a mirage. Change Quotient (CQ), the measure of an organization’s capacity to adapt and thrive amidst change, is not a theoretical concept for sprawling corporations alone.

It’s a tangible, operational necessity for Small and Medium Businesses Meaning ● Small and Medium Businesses (SMBs) represent enterprises with workforces and revenues below certain thresholds, varying by country and industry sector; within the context of SMB growth, these organizations are actively strategizing for expansion and scalability. (SMBs) navigating today’s dynamic landscape. The question then becomes not if CQ matters, but precisely where in the daily rhythm of an SMB its implementation resonates most powerfully.

Identifying Key Operational Sequences

To pinpoint the impact of CQ implementation, we must first map the typical operational sequences within an SMB. These are not rigid, linear paths, but rather interconnected flows that define how work gets done. Think of it as the circulatory system of a business, each part vital to the overall health. These sequences broadly fall into categories:

• Customer Acquisition Sequence ● This encompasses marketing, sales, and initial customer onboarding.
• Service Delivery Sequence ● The core operations of fulfilling promises to customers, whether product delivery or service provision.
• Internal Operations Sequence ● The behind-the-scenes activities, including administration, finance, and human resources.
• Product/Service Development Sequence ● Innovation and adaptation of offerings to meet evolving market demands.

Each of these sequences represents a chain of actions, and within each chain lies the potential for CQ to act as a catalyst for improvement.

The Front-End Impact ● Customer Acquisition

The initial interaction a potential customer has with an SMB sets the stage. In the customer acquisition Meaning ● Gaining new customers strategically and ethically for sustainable SMB growth. sequence, CQ implementation manifests in several key areas. Consider the shift towards digital marketing. An SMB clinging to traditional print advertising while competitors dominate social media channels demonstrates a low CQ in its marketing approach.

Implementing CQ here means embracing data-driven marketing strategies, experimenting with new platforms, and adapting messaging to resonate with online audiences. This is not simply about having a website; it is about a mindset of continuous learning Meaning ● Continuous Learning, in the context of SMB growth, automation, and implementation, denotes a sustained commitment to skill enhancement and knowledge acquisition at all organizational levels. and adaptation in how the business attracts and engages potential customers.

CQ implementation in customer acquisition is about embracing agility in marketing and sales strategies to meet evolving customer expectations.

Another critical aspect is sales process adaptability. Traditional sales tactics might involve rigid scripts and in-person meetings. However, a high-CQ SMB understands the need for flexible sales approaches, incorporating online demos, personalized follow-ups, and leveraging CRM systems to track and optimize customer interactions. This adaptability extends to pricing strategies as well.

In a competitive market, a static pricing model can quickly become obsolete. CQ-driven pricing involves dynamic adjustments based on market conditions, competitor actions, and customer value perception. This sequence is about being nimble and responsive in the face of changing customer preferences and market dynamics.

The Core Engine ● Service Delivery

The service delivery sequence is where promises made during customer acquisition are either kept or broken. For SMBs, this is often the most visible and impactful operational area. CQ implementation here directly affects customer satisfaction and retention. Imagine a restaurant that consistently delivers the same menu and service style, regardless of changing dietary trends or customer feedback.

This rigidity indicates a low CQ in service delivery. A CQ-driven restaurant, conversely, would actively solicit customer feedback, adapt its menu to incorporate new trends and dietary needs, and train staff to handle diverse customer requests with flexibility and empathy.

Automation plays a significant role in CQ implementation within service delivery. For a small manufacturing business, manual processes might have been sufficient in the past. However, scaling operations and maintaining quality in the face of increased demand requires automation. Implementing CQ in this context involves identifying bottlenecks in the production process, adopting automation technologies to streamline workflows, and training employees to work effectively with new systems.

This is not about replacing human labor entirely, but about augmenting it with technology to enhance efficiency and consistency. Furthermore, supply chain resilience is a critical component of service delivery CQ. SMBs often face vulnerabilities in their supply chains, exposed by events ranging from natural disasters to global pandemics. CQ implementation involves diversifying suppliers, developing contingency plans, and adopting technologies for better supply chain visibility and management. This ensures that service delivery remains consistent even in the face of disruptions.

The Backbone ● Internal Operations

While less visible to customers, the internal operations sequence is the foundation upon which all other business activities rest. Inefficiencies and rigidities in internal operations can ripple outwards, affecting customer service Meaning ● Customer service, within the context of SMB growth, involves providing assistance and support to customers before, during, and after a purchase, a vital function for business survival. and ultimately, profitability. CQ implementation in this sequence is about creating a flexible and responsive organizational structure. Consider a small accounting firm using outdated software and manual data entry processes.

This lack of technological adaptation hinders efficiency and increases the risk of errors. Implementing CQ involves adopting cloud-based accounting software, automating data entry and reporting, and training staff to leverage these new tools. This not only improves efficiency but also enhances data security and accessibility.

Internal operational agility, driven by CQ, creates a resilient and efficient backbone for SMB success.

Human resources is another critical area within internal operations where CQ implementation is vital. Traditional HR practices might focus on rigid job descriptions and annual performance reviews. However, a high-CQ SMB embraces flexible roles, continuous feedback mechanisms, and skills development programs. This adaptability is crucial in attracting and retaining talent in a competitive labor market.

Furthermore, financial management within SMBs often suffers from a lack of strategic foresight. CQ implementation in finance involves adopting proactive financial planning, scenario analysis, and risk management strategies. This is not just about tracking past performance, but about anticipating future challenges and opportunities and making informed financial decisions to ensure long-term sustainability. Internal operations CQ is about building an agile and resilient organizational infrastructure that supports all aspects of the business.

The Future-Oriented Sequence ● Product/Service Development

In a rapidly changing market, stagnation is a death sentence. The product/service development sequence is where SMBs must demonstrate their capacity for innovation and adaptation to remain relevant. CQ implementation here is about fostering a culture of experimentation Meaning ● Within the context of SMB growth, automation, and implementation, a Culture of Experimentation signifies an organizational environment where testing new ideas and approaches is actively encouraged and systematically pursued. and continuous improvement. Imagine a software startup that releases a product and then rests on its laurels, ignoring user feedback and market trends.

This lack of adaptability is a recipe for obsolescence. A CQ-driven software company, on the other hand, would adopt agile development methodologies, continuously solicit user feedback, and iterate its product based on market demands and technological advancements.

Market research and competitive analysis are crucial components of CQ-driven product/service development. SMBs must constantly monitor market trends, identify emerging customer needs, and analyze competitor offerings. This proactive approach allows them to anticipate market shifts and adapt their offerings accordingly. Furthermore, innovation is not solely about radical breakthroughs; it is also about incremental improvements.

CQ implementation encourages a culture of continuous improvement, where employees are empowered to identify and implement small changes that enhance product/service quality and customer value. This sequence is about building a future-oriented mindset that embraces change as an opportunity for growth and innovation.

Business Sequence Impact Table

To summarize the impact of CQ implementation across business sequences, consider the following table:

The business sequence where CQ implementation arguably has the most immediate and visible impact is the Service Delivery Sequence. This is the point of direct customer interaction and operational execution. However, the impact is not isolated.

Improvements in service delivery, driven by CQ, are underpinned by changes in internal operations and customer acquisition, and they fuel future product/service development. CQ implementation is not a one-time fix, but an ongoing process that permeates all business sequences, creating a virtuous cycle of adaptation and growth.

For SMBs, the journey towards high CQ begins with recognizing the need for change and understanding where to focus efforts. It is about moving away from a static mindset and embracing a dynamic approach to business operations. This fundamental shift in perspective is the first step in unlocking the transformative potential of CQ implementation.

Intermediate

While the foundational understanding of Change Quotient (CQ) in Small and Medium Businesses (SMBs) points towards a broad operational impact, a deeper analysis reveals a more nuanced picture. Consider the statistic that SMBs adopting digital technologies are 21% more likely to report revenue growth annually. This isn’t merely about adopting technology; it signals a higher CQ enabling them to leverage these tools effectively.

The business sequence where CQ implementation exerts its most strategic influence isn’t just about immediate operational fixes, but about fostering a systemic capacity for adaptive evolution. This requires moving beyond a basic understanding of operational areas and delving into the interconnectedness of business processes and strategic alignment.

Strategic Alignment and CQ Implementation

At the intermediate level, the focus shifts from identifying where CQ impacts operations to understanding how it strategically aligns with SMB growth Meaning ● SMB Growth is the strategic expansion of small to medium businesses focusing on sustainable value, ethical practices, and advanced automation for long-term success. and automation goals. CQ implementation is not a standalone initiative; it must be interwoven with the overall business strategy. This alignment begins with a clear articulation of the SMB’s vision and objectives. What are the long-term goals?

Where does the SMB aspire to be in the next 3-5 years? These strategic questions provide the compass for CQ implementation efforts. For example, if an SMB’s strategic goal is to expand into new markets, CQ implementation should prioritize adaptability in market entry strategies, product localization, and cross-cultural communication.

Strategic alignment ensures CQ implementation is not just reactive, but a proactive driver of SMB growth and strategic objectives.

Automation, a key driver of SMB scalability, is intrinsically linked to CQ. Implementing automation technologies without a corresponding increase in CQ can lead to rigid, inflexible systems that hinder rather than help adaptation. Consider an SMB investing heavily in CRM software but failing to train employees on its effective use or adapt sales processes to leverage its capabilities. This is a case of low CQ hindering the successful implementation of automation.

CQ-driven automation, conversely, involves a holistic approach that considers not just the technology itself, but also the organizational culture, employee skills, and process adaptability required to maximize its benefits. This strategic alignment Meaning ● Strategic Alignment for SMBs: Dynamically adapting strategies & operations for sustained growth in complex environments. ensures that automation investments contribute to overall business agility and responsiveness.

Process Optimization and CQ Integration

Process optimization is a critical business sequence where CQ implementation becomes deeply integrated. SMBs often operate with processes that have evolved organically over time, leading to inefficiencies and bottlenecks. CQ provides the framework for critically examining and redesigning these processes for greater agility and efficiency. This is not simply about streamlining existing workflows; it is about fundamentally rethinking how work gets done in a way that embraces change and continuous improvement.

For example, consider an SMB with a cumbersome order fulfillment process involving multiple manual steps and departmental silos. Implementing CQ in process optimization Meaning ● Enhancing SMB operations for efficiency and growth through systematic process improvements. would involve mapping the entire process, identifying pain points, and redesigning it to incorporate automation, cross-functional collaboration, and real-time data visibility. This process redesign is not a one-time event, but an ongoing cycle of analysis, optimization, and adaptation.

Lean methodologies and Six Sigma principles are valuable tools for CQ-driven process optimization. These methodologies provide structured frameworks for identifying and eliminating waste, reducing variability, and improving process flow. However, their successful implementation hinges on a high CQ within the organization. Employees must be willing to embrace change, challenge existing processes, and actively participate in process improvement initiatives.

Leadership plays a crucial role in fostering this CQ-driven culture, creating an environment where process optimization is not seen as a threat, but as an opportunity for growth and improvement. Furthermore, data-driven decision-making is essential for effective process optimization. CQ implementation encourages SMBs to collect and analyze data on process performance, identify areas for improvement, and measure the impact of process changes. This data-driven approach ensures that process optimization efforts are targeted, effective, and aligned with business objectives.

Customer Experience and CQ-Driven Adaptation

Customer experience (CX) is increasingly recognized as a key differentiator for SMBs. In a competitive market, providing exceptional CX is not just about customer service; it is about creating a holistic and positive journey for customers across all touchpoints. CQ implementation is paramount in enabling SMBs to adapt their CX strategies to meet evolving customer expectations. Consider the rise of personalized customer experiences.

Generic, one-size-fits-all approaches are no longer sufficient. Customers expect personalized interactions, tailored offers, and seamless experiences across channels. CQ-driven CX adaptation involves leveraging customer data to understand individual needs and preferences, personalizing communication and offers, and creating omnichannel experiences that allow customers to interact with the SMB seamlessly across different platforms. This requires not just technology implementation, but also a cultural shift towards customer-centricity and a willingness to adapt CX strategies based on customer feedback Meaning ● Customer Feedback, within the landscape of SMBs, represents the vital information conduit channeling insights, opinions, and reactions from customers pertaining to products, services, or the overall brand experience; it is strategically used to inform and refine business decisions related to growth, automation initiatives, and operational implementations. and data insights.

Feedback loops are crucial for CQ-driven CX adaptation. SMBs must actively solicit customer feedback through surveys, reviews, social media monitoring, and direct interactions. This feedback provides valuable insights into customer pain points, areas for improvement, and emerging customer needs. CQ implementation involves establishing robust feedback loops Meaning ● Feedback loops are cyclical processes where business outputs become inputs, shaping future actions for SMB growth and adaptation. that allow customer insights to be quickly translated into actionable changes in CX strategies and operational processes.

Furthermore, proactive customer service is a hallmark of CQ-driven CX. This is not just about reacting to customer complaints, but about anticipating customer needs and proactively addressing potential issues. This might involve using predictive analytics to identify customers at risk of churn, proactively offering solutions or support, and personalizing customer communication based on their past interactions and preferences. CQ-driven CX is about building a customer-centric culture that is constantly adapting and evolving to meet the ever-changing expectations of today’s customers.

Technology Adoption and CQ Readiness

Technology is a powerful enabler of SMB growth and automation, but its effective adoption is contingent upon CQ readiness. SMBs often face challenges in adopting new technologies, ranging from cost constraints to lack of technical expertise and resistance to change. CQ implementation addresses these challenges by fostering a culture of technological agility and continuous learning. This begins with a strategic approach to technology adoption, aligning technology investments with business objectives and prioritizing technologies that enhance agility and adaptability.

For example, cloud computing, SaaS solutions, and mobile technologies offer SMBs greater flexibility and scalability compared to traditional on-premise systems. CQ-driven technology adoption Meaning ● Technology Adoption is the strategic integration of new tools to enhance SMB operations and drive growth. involves carefully evaluating different technology options, considering their adaptability, scalability, and integration capabilities, and choosing solutions that align with the SMB’s long-term growth strategy.

CQ readiness is the foundation for successful technology adoption, ensuring SMBs can leverage technology for agility and growth.

Employee training and skills development are crucial components of CQ-driven technology adoption. New technologies often require new skills and competencies. SMBs must invest in training programs to equip employees with the skills needed to effectively use new technologies and adapt to changing work processes. This is not just about technical training; it is also about fostering a mindset of continuous learning and adaptability.

Furthermore, change management is essential for successful technology adoption. Implementing new technologies often involves significant changes in workflows, processes, and roles. CQ implementation incorporates change management strategies to address employee resistance, communicate the benefits of technology adoption, and provide support and guidance during the transition. This ensures that technology adoption is not disruptive, but a smooth and positive process that enhances organizational agility Meaning ● Organizational Agility: SMB's capacity to swiftly adapt & leverage change for growth through flexible processes & strategic automation. and performance.

Business Sequence Impact Refinement

Building upon the fundamental understanding, at the intermediate level, the business sequence where CQ implementation has the most profound strategic impact shifts slightly. While service delivery remains critical, the Process Optimization Sequence emerges as equally, if not more, strategically important. Optimizing core business processes, driven by CQ, creates a ripple effect that enhances efficiency across all operational areas, improves customer experience, and enables successful technology adoption. Process optimization acts as the engine for continuous improvement, driving agility and responsiveness throughout the SMB.

However, it is crucial to recognize that these sequences are interconnected. Effective process optimization requires strategic alignment, customer-centricity, and technology readiness, all of which are underpinned by a high CQ. The intermediate perspective emphasizes the systemic nature of CQ impact, highlighting its role in creating a strategically agile and adaptable SMB.

For SMBs at this stage, CQ implementation is no longer just about addressing immediate operational needs; it is about building a strategic capability for continuous adaptation and growth. It requires a more sophisticated understanding of business processes, strategic alignment, and the interconnectedness of different operational areas. This intermediate level of CQ implementation sets the stage for deeper, transformative changes at the advanced level.

Advanced

The discourse surrounding Change Quotient (CQ) in Small and Medium Businesses (SMBs) often oscillates between operational necessity and strategic advantage. However, advanced analysis, informed by research such as Beer and Nohria’s (2000) work on breaking the code of change, reveals CQ implementation as a far more profound organizational capability. Consider the statistic that companies with high organizational agility are 75% more likely to outperform competitors in profitability.

This isn’t simply about reacting to market shifts; it signifies a deeply embedded CQ that enables proactive adaptation and market leadership. At this level, the business sequence where CQ implementation exerts its most transformative impact transcends individual operational areas and becomes intrinsically linked to organizational architecture Meaning ● SMB organizational architecture: adaptable system for growth, efficiency, and resilience in a dynamic market. and dynamic capability building.

Dynamic Capabilities and CQ as Organizational DNA

Advanced CQ implementation moves beyond process optimization and strategic alignment to become embedded within the SMB’s organizational DNA. This involves cultivating dynamic capabilities, defined by Teece, Pisano, and Shuen (1997) as the firm’s ability to sense, seize, and reconfigure resources to create and sustain competitive advantage. CQ, in this context, is not merely a quotient to be measured; it is the very operating system of these dynamic capabilities. Sensing capabilities, the ability to scan, search, and explore across technologies and markets, are directly enhanced by a high CQ.

SMBs with a strong CQ are more attuned to weak signals of change, emerging trends, and disruptive technologies. They actively seek out new information, experiment with novel approaches, and foster a culture of curiosity and exploration. This proactive sensing allows them to anticipate market shifts and identify emerging opportunities before competitors.

CQ, at its advanced stage, becomes the organizational DNA Meaning ● Organizational DNA in the SMB context signifies the core set of values, beliefs, processes, and behaviors ingrained within the company, influencing how it operates and adapts. that powers dynamic capabilities Meaning ● Organizational agility for SMBs to thrive in changing markets by sensing, seizing, and transforming effectively. and drives sustained competitive advantage.

Seizing capabilities, the ability to mobilize resources to address opportunities and capture value, are also fundamentally shaped by CQ. SMBs with high CQ are more agile in resource allocation, decision-making, and execution. They can quickly reallocate resources to capitalize on emerging opportunities, adapt business models to changing market conditions, and execute strategic initiatives with speed and efficiency. This seizing capability is not just about speed; it is about strategic agility, the ability to make bold moves and take calculated risks in response to dynamic market environments.

Reconfiguring capabilities, the ability to transform and realign organizational assets and structures to maintain competitiveness, are the ultimate manifestation of advanced CQ. SMBs with strong reconfiguring capabilities can fundamentally transform their business models, organizational structures, and value propositions in response to disruptive changes. This might involve pivoting to new markets, adopting radically new technologies, or fundamentally redesigning their value chain. CQ, as the organizational DNA, enables these dynamic capabilities to function cohesively and effectively, driving sustained competitive advantage Meaning ● SMB Competitive Advantage: Ecosystem-embedded, hyper-personalized value, sustained by strategic automation, ensuring resilience & impact. in turbulent environments.

Organizational Learning and Adaptive Systems

At the advanced level, CQ implementation fosters a culture of organizational learning, transforming the SMB into an adaptive system. This is not just about individual learning; it is about creating mechanisms for collective learning, knowledge sharing, and continuous improvement Meaning ● Ongoing, incremental improvements focused on agility and value for SMB success. across the organization. Argyris and Schön’s (1978) work on organizational learning Meaning ● Organizational Learning: SMB's continuous improvement through experience, driving growth and adaptability. highlights the distinction between single-loop and double-loop learning. Single-loop learning involves correcting errors within existing routines and processes.

Double-loop learning, in contrast, involves questioning and changing the underlying assumptions, values, and policies that govern those routines and processes. Advanced CQ implementation promotes double-loop learning, encouraging SMBs to critically examine their core assumptions, challenge established norms, and fundamentally rethink their approaches to business. This requires creating safe spaces for experimentation, failure, and reflection, where employees are empowered to challenge the status quo and propose radical new ideas.

Knowledge management systems and collaborative platforms are crucial tools for fostering organizational learning in CQ-driven SMBs. These systems facilitate knowledge sharing, capture best practices, and enable cross-functional collaboration. However, technology alone is not sufficient. CQ implementation must also address the cultural and behavioral aspects of organizational learning.

This involves fostering a culture of openness, transparency, and psychological safety, where employees feel comfortable sharing their ideas, voicing their concerns, and learning from mistakes. Leadership plays a critical role in shaping this learning culture, modeling curiosity, encouraging experimentation, and rewarding both successes and learning from failures. Furthermore, adaptive systems Meaning ● Adaptive Systems, in the SMB arena, denote frameworks built for inherent change and optimization, aligning technology with evolving business needs. thinking is essential for advanced CQ implementation. This involves understanding the SMB as a complex, interconnected system, where changes in one part of the system can have ripple effects throughout the organization.

CQ-driven SMBs adopt a systems perspective, analyzing the interconnectedness of different business processes, understanding feedback loops, and designing interventions that address systemic issues rather than isolated symptoms. This holistic approach to organizational learning and adaptation enables SMBs to navigate complexity and thrive in highly dynamic environments.

Data-Driven Agility and Predictive Adaptation

In the advanced stage, CQ implementation leverages data analytics and predictive modeling to achieve data-driven agility Meaning ● Data-Driven Agility empowers SMBs to adapt and thrive by making informed decisions based on data insights. and predictive adaptation. This moves beyond reactive responses to market changes and enables proactive anticipation of future trends and disruptions. Big data analytics, machine learning, and artificial intelligence provide powerful tools for analyzing vast amounts of data, identifying patterns, and generating predictive insights. CQ-driven SMBs leverage these technologies to gain a deeper understanding of customer behavior, market dynamics, and operational performance.

This data-driven intelligence informs strategic decision-making, enables proactive risk management, and facilitates predictive adaptation to future scenarios. For example, predictive analytics can be used to forecast customer demand, optimize inventory levels, and personalize marketing campaigns with unprecedented accuracy. Machine learning algorithms can identify emerging market trends, detect anomalies in operational processes, and automate decision-making in complex environments.

Real-time data dashboards and dynamic reporting systems are essential for enabling data-driven agility. These tools provide SMBs with real-time visibility into key performance indicators, allowing them to monitor performance, detect deviations from targets, and respond quickly to changing conditions. However, data-driven agility is not just about technology; it is also about organizational culture and capabilities. CQ implementation must foster a data-driven mindset throughout the organization, where employees are empowered to access and analyze data, make data-informed decisions, and continuously improve performance based on data insights.

Furthermore, scenario planning and simulation modeling are valuable tools for predictive adaptation. CQ-driven SMBs use these techniques to explore different future scenarios, assess the potential impact of various disruptions, and develop contingency plans and adaptive strategies. This proactive approach to future planning enables them to anticipate challenges, mitigate risks, and capitalize on emerging opportunities in a rapidly changing world. Data-driven agility and predictive adaptation represent the pinnacle of advanced CQ implementation, enabling SMBs to not just react to change, but to proactively shape their future.

Business Sequence Impact Transformation

At the advanced level, the concept of a single “most impactful” business sequence becomes less relevant. CQ implementation, at this stage, is not confined to specific sequences; it permeates the entire organizational ecosystem, transforming all business sequences into adaptive and dynamic processes. The focus shifts from optimizing individual sequences to creating a holistically agile and adaptive organization. However, if one were to pinpoint a sequence that embodies this transformative impact, it would be the Organizational Architecture Sequence.

This sequence encompasses the fundamental design of the SMB ● its structure, culture, processes, and capabilities. Advanced CQ implementation fundamentally redesigns this organizational architecture to be inherently adaptive, resilient, and future-proof. This involves creating flat, decentralized organizational structures, fostering a culture of innovation and collaboration, implementing agile and data-driven processes, and building dynamic capabilities across all functions. The organizational architecture sequence is not just about operational efficiency; it is about creating a fundamentally different type of SMB ● one that is designed for continuous evolution and sustained success in the face of relentless change.

For SMBs operating at this advanced level, CQ implementation is not a project or an initiative; it is a continuous journey of organizational transformation. It requires a deep commitment to learning, adaptation, and innovation, and a willingness to challenge conventional wisdom and embrace radical change. This advanced stage of CQ implementation is not easily achieved, but it represents the ultimate competitive advantage in today’s turbulent and unpredictable business environment. It is the path towards building truly resilient, future-proof SMBs that can not just survive, but thrive in the face of any challenge.

References

• Argyris, C., & Schön, D. A. (1978). Organizational learning ● A theory of action perspective. Addison-Wesley Publishing Company.
• Beer, M., & Nohria, N. (2000). Cracking the code of change. Harvard Business Review, 78(3), 133-141.
• Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509-533.