Mel knows that the hair-styling business is highly competitive and new trends are constantly emerging, so she regularly provides training for her stylists, so they not only keep up with the latest hairstyles and techniques but are also able to provide new services to their customers. This, according to Teece, demonstrates the business's

Question

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Dynamic capabilities refer to a business's ability to adapt, renew, and reconfigure its resources and capabilities to address rapidly changing environments, which is what Mel is doing by providing regular training to keep up with new trends.

Mel Knows That the Hair-Styling Business Is Highly Competitive and New