To more completely understand the basis for firm performance differences, we need greater clarity on the drivers of differentiation in managerial strategic decision-making, as well as on the impact these decisions have on the composition and configuration of the firm's resource portfolio. In...

This article, from The Oxford Handbook of Dynamic Capabilities (David J. Teece & Sohvi Leih, eds. 2016), describes the construct of “legal astuteness” and explains why it is a valuable dynamic capability. It also examines the systems approach to law and strategy, which embeds the top...