1. Chia and Holt argue that strategy can be the product of 'local actions and adaptations without the oversight or pre-authored design of 'big' strategists'. Critically discuss this claim using suitable examples.
2. Teece, Pisano and Shuen propose a "'dynamic capabilities' approach in order to stress exploiting existing internal and external firm-specific competences to address changing environments". Critically discuss the concept of dynamic capabilities using suitable examples.