Dynamic Capabilities and Innovative Orientation Towards Business Success in Turbulent Business Environments: The Experience of a Successful Woman Entrepreneur in Sri Lanka

Abstract

Dynamic capabilities and innovative orientation are crucial for entrepreneurs achieving success in turbulent environments. Increasing number of women entrepreneurs and numerous obstacles face by them enhance the necessity of studying how women entrepreneurs utilize dynamic capabilities and innovative orientation for achieving success in turbulent business environments. This study is a qualitative inquiry of a successful woman entrepreneur in Western Province of Sri Lanka and utilized the narrative analysis by allowing the entrepreneur to share the experiences through the story telling. Business success was captured with her explanations on initial and present level of the business in terms of number of employees, physical facility improvement, market share, foreign markets, product developments and diversification. Environmental sensing & seizing, learning, integration & reconfiguration, and knowledge sharing are the dynamic capabilities that she possessed. Entrepreneurial characteristics including risk taking, need for achievement, tolerance of ambiguity, creativity & innovation, self-confidence & determination, passion, and optimism work as a strong drive for fostering the dynamic capabilities and innovative orientation throughout the success journey of her business. “Knowledge sharing” is recognized as a new dimension of dynamic capability and it affects to enhance business image, open avenue for creating networks with diverse groups in the society and fulfill the CSR requirement that is essential for business survival.