Drawing on the tenets of dynamic capabilities theory and the results of a longitudinal case study, this article proposes a conceptual framework to explain how firms transform key resources in a dynamic business environment, recognizing that resources are enduring, complex, and hard to change. The framework distinguishes between two types of capabilities—operational and dynamic capabilities—and identifies different pathways they take to competitive advantage and performance. The paper also conceptualizes architectural and absorptive capabilities to explain the circumstances in which dynamic capabilities may (or may not) contribute to firm performance. The empirical results provide insights for service managers and marketing professionals about how to deploy dynamic capabilities to sustain competition in a dynamic environment. Implications for research and practice are discussed.

借助动态能力理论的宗旨和纵向案例研究的结果，本文提出了一个概念框架，以解释公司如何在动态业务环境中转换关键资源，同时认识到资源是持久的，复杂的且难以更改的。该框架区分两种类型的功能-运营功能和动态功能-并确定它们为获得竞争优势和绩效所采取的不同途径。本文还概念化了架构和吸收能力，以说明动态能力可能（或可能不）对公司绩效产生影响的情况。实证结果为服务经理和市场营销专业人员提供了有关如何部署动态功能以在动态环境中维持竞争的见解。