Abstract:

 According to the dynamic capabilities view, in today' s turbulent environments, competitive advantage results from dynamic capacities to continuously improve, innovate, and reconfigure resources to shape new functional competencies that align with the environment. However, currently the dynamic capabilities theory still lies at an exploratory stage. There are still large divergences about the dimension and function about dynamic capabilities. This study bases on the dynamic capabilities framework of Teece et al.' s, and expands it into more specific content. According to theoretical analysis，literature research, and indepth interviews, from resource reconfigured process perspective, we decompose dynamic capabilities into market orientation, organization learning, integrative capabilities, organizational flexibility and risk prevention capability. We explore the relationship between dynamic capability and organization performance, and the role of environmental turbulence. This study sets enterprises in Fujian Province as research targets. 262 samples are collected by using questionnaire as data collection tool. After the empirical study of these samples by factor analysis, structural equation model and so on, With 262 valid samples from a largescale questionnaire survey，the results verify the role of dynamic capabilities on performance and the moderating role of environmental turbulence. The results also suggest that, the dynamic capabilities are valuable even in the relatively stable environments. It extends the value of dynamic capabilities. In theory, this study clarified the value of dynamic capabilities, also provides the proof of the role of dynamic capabilities on the background of a transitional economy country. In practice, this essay enables managers to understand and leverage dynamic capabilities to develop competencies that match changing environment, and it also offers strategic guidance for enterprises to change ways of thinking, and achieve sustainable development.

Key words:  dynamic capabilities, environmental turbulence, organizational performance