DYNAMIC CAPABILITIES AND ENTREPRENEURSHIP

The dynamic capabilities are considered to be the expression of high organizational agility, regardless of the size and purpose of the organization. The theoretical approaches regarding the dynamic capabilities tend to associate them with the ambidextrous organization characterized by an optimal ratio between the exploration and exploitation activities. The dynamic capability is defined by three key elements: learning capacity, integration and coordination capacity and the ability to generate feasible solutions in relation to some optimal criteria. The entrepreneurship is based on innovation, risk-taking and optimal use of the resources available within a lucrative activity. The entrepreneur's appetite for innovation and risk‑taking is a specific feature of the exploration activity while the optimal use of resources in a lucrative sense is the expression of the exploitation activity. The purpose of this article is to bring to the fore that the entrepreneurial initiative and its materialization imply the creation and operation by the entrepreneur of one or more dynamic capabilities.